Morning Bid: Jensen hangs on as Nvidia tumbles

Nvidia's CEO, Jensen Huang, is facing intense scrutiny as the company's stock continues to plummet. The crisis intensified on Wednesday when the board decided the fate of their embattled founder and CEO, who is entangled in two separate scandals. According to a source, Huang allegedly had an affair with another company executive.

The board also announced an investigation into his relationship with a businesswoman who is suspected of being a Chinese spy. The AI giant's shares suffered a significant drop in after-hours trading, plummeting more than 8% at one point due to a flurry of broker downgrades, causing concern in US equity futures during the Asian session.

With no clear successor in sight, potential candidates to become interim CEO include Ian Buck, a key architect of the CUDA software system, and Colette Kress, the CFO. Congressional inquiries are also mounting, with Democratic senators urging the Trump administration to preserve all documents related to Nvidia's chip exports to China.

The future of Nvidia's financing arrangements with other companies in the industry remains uncertain as well.