Nvidia moves toward replacing Jensen Huang as CEO following revelation of a new extramarital affair
The board of directors of the world’s largest chipmaker met Wednesday to discuss the scandal surrounding its founder
A scandal involving Nvidia CEO Jensen Huang is causing concern among Korean investors, as shares in the chip giant have been falling and uncertainty surrounds his future. Nvidia is the second-most held U.S. stock among Korean investors, with local shareholders potentially facing significant losses. As of Thursday, Korean investors held approximately $13.65 billion worth of Nvidia shares, according to data from the Korea Securities Depository. Around 800,000 retail investors in Korea own shares in the company.
Nvidia shares have dropped nearly 15 percent since the company disclosed an investigation into the allegations. If retail investors had retained their holdings, the 15 percent decline would result in an estimated $2.4 billion in valuation losses. The impact extends beyond direct shareholdings, with 153 exchange-traded funds (ETFs) listed on the Korea Exchange having exposure to Nvidia. The ACE Nvidia Bond Mixed ETF, valued at around 197.9 billion won ($148 million), has about 30 percent of its portfolio invested in Nvidia.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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