Nvidia closes on the Nasdaq at -4.34%, over 400 billion burned since the beginning of the week
The stock loses 4.34% and has burned over 400 billion in market value since the beginning of the week
Quick Look
- Nvidia closes on the Nasdaq with a fall of 4.34% to 166.19 dollars, with losses of 11% since the beginning of the week after the resignation of CEO Jensen Huang, linked to alleged extramarital affairs.
- The company has burned through more than $400 billion in market value since Monday.
AI-generated summary
Why It Matters
Nvidia is an artificial intelligence giant listed on the Nasdaq. CEO Jensen Huang's resignation was triggered by reports of his extramarital affairs, including one with Kimberly Powell, a healthcare manager for 18 years, and another with an employee.
Nvidia closes on the Nasdaq with a fall of 4.34%, to 166.19 dollars, bringing losses to 11% since the beginning of the week, triggered by reports of extramarital affairs by Jensen Huang, who resigned as CEO today. The company has burned through more than $400 billion in market value since Monday. In addition to the relationship with Kimberly Powell, healthcare manager for 18 years at his side at the top of the AI giant, Huang would have had a romantic relationship with another employee. In the 'honey trap' of Alice Huang, believed to be a Chinese spy, the woman's worrying link with Huawei, Nvidia's rival from the Dragon, has emerged.
What to Watch
AI outlook — possibilities, not facts
Nvidia will announce a new CEO in the coming weeks
Very likely · Within weeks
Nvidia stock will continue to face downward pressure in the near term
Likely · Within days
Open Questions
- What is the concrete evidence of Huang's extramarital affairs?
- What is Alice Huang's exact role and her alleged ties to Huawei?
- Who will succeed Jensen Huang as CEO of Nvidia?
- What will be the long-term impact on Nvidia's market value?
