Nvidia stock price plunges amid second Jensen Huang affair allegation — the AI company could be set to lose hundreds of billions in value
That's just under 10% of the company's market cap.
Nvidia's stock price has plummeted following the disclosure of a second affair allegation against its CEO, Jensen Huang. The AI company, already facing a competitive threat in China and a Democratic midterm win, is now also grappling with internal turmoil. Allegedly, Huang has been involved in an affair with another Nvidia executive, Kimberly Powell.
The company is now investigating whether to remove Huang from his position. This internal crisis has sent shockwaves through the market, causing Nvidia's stock price to plummet from a high of $239.24 on October 6 to $161.88 in after-hours trading as of the time of writing. This represents a significant loss of nearly half a trillion dollars in market value.
Despite the setback, Nvidia remains a dominant player in the AI hardware industry. However, the uncertainty surrounding its leadership could impact its future prospects and the value of its shares.
Written by urgent.news from PC Gamer's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
