Nvidia shares fall as AI giant rocked by Jensen Huang’s resignation

Résumé détaillé

The company’s share price has been sinking since its board announced an investigation into Mr Huang.

Nvidia’s share price has tumbled as the AI chipmaker announced the resignation of boss Jensen Huang in the wake of his affair with an alleged Chinese spy.

Investors were reacting to the departure of the boss and the uncertainty about the future leadership and direction of one of the world’s most valuable companies.

They steadied shortly after but remained about 8% lower in early trading.

Nvidia announced on Thursday that Mr Huang had resigned as president and chief executive with immediate effect and was no longer on the board.

Colette Kress, the current chief financial officer, has stepped into the top job on an interim basis.

Mr Huang faced growing calls to resign after reports that he had an affair with a former executive of the company Megaspeed, who was suspected of being a Chinese government agent.

Late on Wednesday, the New York Times reported that he had another extramarital affair with an Nvidia employee who reports to him.

Nvidia’s share price has been sinking since its board announced an investigation into Mr Huang over reports that he had been the “target of a foreign intelligence effort”.

A statement from the board on Sunday said it had “no reason to believe that either national security or Nvidia secrets were compromised”.

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