The Nvidia board met to discuss whether to remove Jensen Huang
Nvidia stock closes down over 4% after CEO Jensen Huang announces resignation
According to CNBC, Nvidia CEO Jensen Huang announced his resignation, and the company's stock closed down more than 4%. Previously, the Financial Times said Jensen Huang had an extramarital relationship with Alice Huang, an executive at cloud company Megaspeed, and US intelligence officials believed she was a Chinese spy; The New York Times said on Wednesday that he also had an extramarital relationship with Kimberly Powell, Nvidia's vice president of healthcare, who reports directly to Jensen Huang. Jensen Huang admitted on Sunday that he had had an extramarital affair, CNBC confirmed that the board met on Wednesday to discuss whether to remove him, and US members of Congress have called for his resignation. Bernstein cut its Nvidia target price from 400 USD to 200 USD on Thursday, Wall Street analysts said the stock could fall another 20% if Jensen Huang is removed, and the stock has fallen more than 20% over the past month; the chief investment officer of Questar Capital Partners said the lack of a succession plan makes Nvidia stock uninvestable.
The report gathers analysts' judgments on the stock price impact of Jensen Huang's staying or leaving and concerns about the absence of a successor, and can serve as a reference for observing key-person risk at an AI leader.