Nvidia shares plunge in after-hours trading as concerns about CEO Jensen Huang intensify
Nvidia shares fell more than 8 per cent at one point in US after-hours trading on Wednesday as CEO Jensen Huang’s prospects of hanging onto that role became more clouded after media reports of a board meeting and another extramarital affair. The drop in the American AI chip giant’s share price erased a 2.9 per cent rebound in the regular trading session, after the stock lost over 9.5 per cent in…
Nvidia's shares experienced a significant drop in after-hours trading on Wednesday, plummeting more than 8 percent. This decline occurred as concerns surrounding CEO Jensen Huang's position intensified, following reports of a potential board meeting and additional extramarital affairs. The stock's decline erased a 2.9 percent rebound from the previous trading session, with Nvidia's shares already plummeting over 9.5 percent on Monday and Tuesday.
As speculation grew regarding Huang's continued tenure, The Wall Street Journal reported that the company's board was set to meet and potentially remove him as early as Wednesday. Additionally, The New York Times revealed that Huang, who had previously admitted to marital infidelity with a Chinese businesswoman, was also embroiled in an extramarital relationship with Nvidia's vice-president of healthcare, Kimberly Powell.
Five sources familiar with the situation confirmed these allegations to The New York Times, but Nvidia declined to comment on the matter.
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- Jensen Huang's relationship with alleged Chinese spy Alice Huang reportedly led to S$9.6 billion in chips shipped to China mothership.sg
- CEO Jensen Huang's job is suddenly on the line at Nvidia arstechnica.com
- Sources: Jensen Huang had an extramarital relationship with Nvidia's VP of healthcare, Kimberly Powell, who reports to him; it was discussed inside the company (New York Times) nytimes.com
- Source: Nvidia's board is working with an outside firm to identify possible replacements for Jensen Huang and weighs naming a temporary CEO during the search (Bloomberg) bloomberg.com
- Nvidia H200 chips reach Chinese universities through local suppliers and rented servers hindustantimes.com
- Nvidia board reportedly prepares to remove Jensen Huang techinasia.com
- Nvidia prepares to fire CEO Jensen Huang, WSJ reports twitter.com
