Nvidia Prepares to Oust Jensen Huang as $427 Billion Selloff Deepens
Updated
Updated · Fox News · Nov 11
Nvidia Prepares to Oust Jensen Huang as $427 Billion Selloff Deepens
3 articles · Updated · Fox News · Nov 11
Summary
The Wall Street Journal reported Nvidia is preparing to remove CEO Jensen Huang as board scrutiny intensifies over his admitted infidelity and an alleged relationship with a suspected Chinese intelligence asset.
More than $427 billion in Nvidia market value was wiped out over two trading sessions, while Baird cut the stock to neutral, Morgan Stanley dropped it from its Top Pick list and Bank of America removed it from its U.S. 1 List.
The pressure widened after The New York Times reported Huang also allegedly had an affair with Kimberly Powell, Nvidia’s vice president of health care, who reports to him.
Nvidia’s board has said it has no reason to believe national security or company secrets were compromised, but lawmakers are demanding answers and have raised the prospect of subpoenas.
The scandal is also reverberating in Taiwan, Huang’s birthplace and a key AI chip hub, underscoring how a personal controversy has become a leadership and geopolitical risk for Nvidia.