Nvidia stock falls 7% as investors await Jensen Huang’s fate
Board weighs CEO's future following reports of extramarital affairs with a Megaspeed executive and an Nvidia VP.
Quick Look
Nvidia shares fell as the board met to weigh whether to oust CEO Jensen Huang following revelations of extramarital affairs with a Megaspeed executive allegedly tied to Chinese intelligence and an Nvidia vice president.
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Why It Matters
Nvidia board met to decide CEO's future following reports of extramarital affairs.
Nvidia shares fell on Thursday as the company's board met to decide whether to ax Jensen Huang as CEO following reports that he had had two extramarital affairs.
On Sunday, Huang admitted to having an affair. The CEO was romantically involved with Alice Huang, an executive at cloud company Megaspeed, according to The Financial Times, who U.S. intelligence officials believe is a spy for China.
The New York Times on Wednesday reported that Huang had another extramarital relationship with Kimberly Powell, vice president of health care at Nvidia. Powell reports to Huang, according to the Times.
CNBC confirmed that the Nvidia board met on Wednesday to discuss whether to oust Huang as CEO.
Open Questions
- Will the board vote to oust Jensen Huang?
- What are the national security implications of the Megaspeed connection?
