Summary
Nvidia shares fell more than 8% in after-hours trading after a report said the board was preparing to remove CEO Jensen Huang. The article says Nvidia is investigating Huang over an admitted affair and reported concerns about his alleged ties to a Chinese business executive suspected by U.S. intelligence agencies of working for China’s Ministry of State Security.Key Facts
- Nvidia shares fell more than 8% to $159.51 in after-hours trading.
- The article says Nvidia's board is preparing to oust CEO Jensen Huang.
- Nvidia launched an investigation into Huang on Nov. 8, according to the article.
- The article reports that U.S. intelligence agencies linked Huang to Alice Huang, a Chinese business executive suspected of being an asset of China's Ministry of State Security.
- Huang admitted to an affair in a message to employees on Sunday and apologized to his wife and two children.
- The article says Nvidia's code of conduct warns that personal relationships can create conflicts of interest.
- Nvidia's market value had fallen by more than $450 billion since the investigation was announced, according to the article.
- Huang co-founded Nvidia in 1993.
