Nvidia shares fell sharply after Jensen Huang stepped down as CEO. Colette Kress is serving as interim chief executive. (Foto: Instagram)
Nvidia shares fell more than 13% to $149.57 on the Nasdaq after Jensen Huang resigned as the company’s president and CEO. The U.S. chipmaker’s stock later pared some of its losses: at about 11:38 a.m. Brasília time, it was down roughly 8%, at $159.24. In premarket trading, the decline had reached 11.56%. Nvidia shares were down 24.23% for the month.
Huang, 63, stepped down amid scandals involving reports of an extramarital relationship with Alice Huang, who is suspected of being a Chinese spy. Colette Kress, Nvidia’s executive vice president and chief financial officer, is taking over as interim CEO.
Alice Huang is a former executive at Megaspeed, a Singapore-based company. She is under investigation on suspicion of passing information to the government in Beijing. The investigation opened on Nov. 8, according to the report. Alice and Jensen Huang share a surname but are not related.
The New York Times also reported that Jensen Huang had another extramarital relationship, with Kimberly Powell, president of Nvidia’s health care division. According to the newspaper, the two were seen in an intimate situation at a hotel in San Jose, California, during a company conference in March.
