Nvidia tumbles early amid questions about Nvidia CEO Jensen Huang’s future

Summary

• Nvidia shares tumbled 7% to US$161.37 on Thursday amid threats to CEO Jensen Huang's tenure following revelations of an affair with a woman reported to be a suspected Chinese spy.
• The stock is now 34% below its all-time high reached just over a month ago, with pressure mounting from both the affair scandal & concerns about an AI sector bubble.
• The New York Times reported Huang had a second affair with a subordinate executive, prompting analysts like Dan Ives to state the board may oust him & the company should be valued without his leadership.
• Nvidia remains valued at over $4 trillion & is a primary driver of the tech-heavy Nasdaq Composite, which has slumped 7% in the past month.
• Rival chipmakers AMD & Broadcom saw their shares move sharply higher as the crisis unfolds at Nvidia.
• CoreWeave, a data centre & cloud company where Nvidia holds an approximate 13% stake, slid nearly 9% during the trading session.