Nvidia board weighs Jensen Huang’s future as CEO
Nvidia’s board of directors is meeting on Wednesday to decide whether to remove co-founder and CEO Jensen Huang, amid uncertainty over the leadership of the world’s leading supplier of AI processors, according to the Wall Street Journal. The meeting follows Nvidia’s announcement on November 8 that it had launched an independent investigation into Huang. A […] The post Nvidia board weighs Jensen…
The Korea Times reports that a scandal involving Nvidia CEO Jensen Huang is causing concern among Korean investors, as the chip giant's shares are experiencing a sharp decline and uncertainty surrounds his future. With Nvidia being the second-most held U.S. stock among Korean investors after Tesla, local shareholders are exposed to significant losses as the chipmaker's shares have plunged by nearly 15 percent since the company announced an investigation into the allegations.
The scandal has resulted in an estimated $2.4 billion in valuation losses for Korean investors, who collectively hold about $13.65 billion worth of Nvidia shares. Additionally, 153 exchange-traded funds listed on the Korea Exchange have exposure to Nvidia, with the ACE Nvidia Bond Mixed ETF, holding about 197.9 billion won ($148 million), having roughly 30 percent of its portfolio invested in the company.
Brief written by urgent.news from The Korea Times's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
