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Nvidia’s stock drops as board reportedly preps to oust CEO Jensen Huang

Summary

  • Nvidia's board is meeting as soon as Wednesday to determine the future of co-founder and CEO Jensen Huang, who has led the company for 33 years.
  • Huang admitted to an extramarital affair with a woman identified by U.S. intelligence as a Chinese spy.
  • Reports indicate Huang also had an affair with an executive who reports directly to him.
  • Nvidia stock fell approximately 8% in after-hours trading on Wednesday due to the scandal.
  • The company's stock is down about 11% over the past five days.
  • Huang delegates very little, maintains about 60 direct reports, and the company lacks an obvious successor or succession plan.

As soon as Wednesday evening, Nvidia's board could decide to remove its founder and CEO of 33 years.

Keywords
AI,TC,Jensen Huang,nvidia