Nvidia prepares to fire CEO Huang after scandal – shares lose
The reason is said to be two extramarital affairs, including one with a suspected Chinese spy
Quick Look
- Nvidia's board of directors plans to decide whether to fire company CEO Jensen Huang after the Wall Street Journal reported two extramarital affairs, including one with a suspected Chinese spy.
- The share initially fell by eight percent after trading.
- The board is also investigating whether Huang was the target of a foreign espionage operation.
AI-generated summary
Why It Matters
In recent years, Nvidia has become the most important manufacturer of chips for artificial intelligence. The group is currently worth around four trillion dollars on the stock market. Huang has close ties to US President Donald Trump and holds a large stake in Nvidia.
The management of the AI chip company Nvidia is preparing to dismiss company boss Jensen Huang. The reason for this was two extramarital affairs, including one with a suspected Chinese spy, the Wall Street Journal reported, citing people familiar with the matter. The board plans to meet on Wednesday to decide Huang's future.
The news caused Nvidia shares to initially fall by eight percent after trading.
The New York Times previously reported that Huang had an extramarital affair with a company executive who reported to him. Just a few days earlier, Huang had admitted to having an affair with a Chinese businesswoman. Nvidia's board is investigating whether Huang was the target of a foreign espionage operation.
Nvidia did not immediately respond to a request for comment on Wednesday evening. In recent years, the group has become the most important manufacturer of chips for the field of artificial intelligence (AI). Huang has close ties to US President Donald Trump and also holds a large stake in Nvidia. The group is currently worth around four trillion dollars on the stock market.
What to Watch
AI outlook — possibilities, not facts
Nvidia's board of directors will decide on Jensen Huang's future on Wednesday.
Very likely · Within hours
Nvidia shares will continue to be under pressure in the short term.
Likely · Within days
Open Questions
- Will board member Jensen Huang actually be fired?
- When does the board meeting take place?
- Is there concrete evidence to support the espionage allegations?
- How does Nvidia officially respond to the reports?
