Nvidia Shares Fall for a 2nd Day in Fallout From CEO Resignation
Nvidia shares fell for a second straight day after Jensen Huang resigned as CEO amid reports of a series of extramarital affairs and national security probes.
TL;DR
- Nvidia shares fell for a second straight day after CEO Jensen Huang resigned.
- Huang's resignation follows reports of extramarital affairs and national security probes.
- The company's stock has fallen more than 20% since late October.
- Nvidia's CFO, Colette Kress, has been named interim CEO.
- The board is searching internally and externally for a permanent replacement.
- Investigations are looking into Huang's relationship with Alice Huang, a Chinese businesswoman, and potential circumvention of export controls.
- US intelligence officials reportedly identified Alice Huang as an agent of Beijing.
- Jensen Huang also allegedly had an affair with Kimberly Powell, a vice president at Nvidia.
- Jensen Huang is set to testify at a Senate Banking Committee hearing on national security concerns.
- House committee chairs have requested a briefing from Huang on security protocols and his interactions.