Jensen Huang, one of the richest tech execs in the world, could soon be out of a job following multiple scandalous accusations that have led to investigations, lawsuits, and stock crashes for NVIDIA. The last few weeks have gone from bad to worse for the NVIDIA founder and CEO after reports of his having a relationship with a woman believed to be a Chinese spy broke. Huang admitted to the affair in an email sent to NVIDIA staff, where he apologised for his misconduct and asked for forgiveness. NVIDIA’s stocks immediately tumbled during this time period, seeing major losses in market value leading to class action lawsuit (via Businesswire) being filed by shareholders accusing NVIDIA and Huang of misleading investors regarding this affair. NVIDIA stock has already dropped by more than 8%, and losses are estimated to be well into the tens of billions of dollars and could go much higher before the dust settles.
Now, per CNN sources, it appears that Huang is now accused of a 2nd affair, but this time with another NVIDIA exec, and its board has held an impromptu meeting to weigh its options in replacing Jensen. This latest turn of events involves Kimberly Powell, NVIDIA’s VP of healthcare, who was reportedly (via Tom’s Hardware) filmed in a compromising moment of affection. The chip manufacturer, which is a major supplier for the AI industry, reportedly doesn’t have a clear succession path for the removal of Huang. The stock market is still recovering from recent crashes involving AI investments but is expected to see further setbacks as this drama continues to unfold. NVIDIA recently lost its top spot in the market to Apple, with which it had been trading blows over the last 24 months following both companies surpassing the trillion-dollar valuation mark, but Team Green could be stuck in a downward spiral until clear decisions are made regarding Jensen’s continued role within the company. The big question, as stated, is who would replace him
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