Oceania · Financial press · Australian Financial Review

Nvidia shares plunge again as default risk nears record high

Published by Australian Financial Review · Australia 8 h ago

Nvidia boss Jensen Huang has stepped down from his position as CEO and board member at the firm. Bloomberg · Australian Financial Review

Detailed summary

Shares of Nvidia slid more than 7 per cent to $US160.85 as the board of directors met to determine the fate of CEO Jensen Huang after a series of scandals. Follow live updates.

Jensen Huang has resigned as president, CEO and board member of Nvidia after admitting to an affair with a businesswoman alleged to be a Chinese spy.

The Nvidia board met late into the night to determine Huang’s fate before announcing his immediate departure.

The company announced that chief financial officer Colette Kress had been appointed interim CEO, while Harvey C. Jones would be the first chair of the board.

Nvidia shares fell more than 10 per cent in pre-market trading, and weighed on the broader market.

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