{
  "id": 19670186,
  "title": "Tech stocks under pressure as Nvidia crisis deepens",
  "url": "https://urgent.news/2026/11/11/tech-stocks-under-pressure-as-nvidia-crisis-deepens",
  "topic": "business",
  "section": "Business",
  "published": "2026-11-11T21:00:00.000Z",
  "source": {
    "name": "Gulf Times Business",
    "slug": "gulf-times-business",
    "url": "https://www.gulf-times.com/article/738056/business/tech-stocks-under-pressure-as-nvidia-crisis-deepens"
  },
  "original_language": "en",
  "account": "On Thursday, technology shares faced pressure as investors closely monitored AI leader Nvidia, whose CEO Jensen Huang was entangled in a board revolt and a probe into an affair with a woman suspected of China espionage. Reports of a second affair, between Huang and a senior Nvidia executive, escalated the turmoil, prompting an emergency board meeting late Wednesday. Nvidia's shares, set to release quarterly earnings next Tuesday, dropped about 6% in pre-market trading. Research director Kathleen Brooks of XTB noted that the leadership crisis at Nvidia, one of the world's largest tech companies, halted the tech stock rally, with the Nasdaq pointing to a lower open. The fallout is driving investors towards traditionally low-tech European markets, with London, Paris, and Frankfurt stocks climbing in midday deals. Frankfurt's DAX even reached a record high above 27,000 points due to strong corporate earnings and optimism surrounding the AI boom. However, the Nvidia leadership crisis rattled investors, sending Asian markets lower. Huang is facing removal after admitting to an extramarital affair with Alice Huang, a senior executive at Singapore-based Megaspeed, who US officials suspect worked for Chinese intelligence. Beijing has denied the spying allegations. Huang is also accused of another extramarital affair with Nvidia's vice president of healthcare, Kimberly Powell. This led to a last-minute board meeting, though no official decisions have been made yet. Over the past month, Nvidia's stock has lost 24% of its value, erasing around $1.4tn from its $1tn market capitalization. The earnings call next week is expected to focus heavily on the integrity of the revenue forecast amidst this scandal. Analysts warn that the crisis has revealed a significant lack of a succession plan for Huang, who is the only CEO Nvidia has ever had. Charu Chanana, chief investment strategist at Saxo Markets, highlighted that an abrupt exit without a credible successor could force investors to reconsider how much of Nvidia's future hinges on Huang personally.",
  "summary": "Technology shares came under pressure on Thursday as investors kept a nervous eye on AI giant Nvidia, whose influential boss Jensen Huang is facing a board revolt amid a probe into an affair with a wo...",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Business Standard IN",
        "title": "Wall Street opens lower as Nvidia CEO Huang steps down, tech stocks slide",
        "url": "https://urgent.news/2026/11/12/wall-street-opens-lower-as-nvidia-ceo-huang-steps-down-tech-stocks",
        "published": "2026-11-12T14:47:47.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}