Jensen Huang: The Leather Jacket Lothario’s $1.8 Trillion Aura Loss
Summary
The article examines reports that Nvidia’s board may consider Jensen Huang’s position as CEO amid reports of alleged relationships, which Huang has not confirmed. It says Nvidia shares fell after a report that the board was preparing to oust him, and discusses analyst Dan Ives’s estimates of how Huang’s departure could affect the company’s valuation.Key Facts
- Huang co-founded Nvidia more than three decades ago and leads the chipmaker, a major supplier in the U.S.-China competition over artificial intelligence.
- The article cites a New York Times report about a second alleged relationship between Huang and an Nvidia subordinate, following reports of another alleged relationship.
- Huang has admitted to being unfaithful but has not confirmed either alleged affair.
- The Wall Street Journal reported that Nvidia’s board was preparing to oust Huang; the article also says the board is considering his position.
- Nvidia shares closed at $173.73 on Wednesday and fell more than 8 percent in after-hours trading following the Wall Street Journal report.
- Analyst Dan Ives set a $300 Nvidia share-price target with Huang as CEO and $225 without him.
- Using Nvidia’s reported 24.1 billion shares outstanding, the article calculates that the difference between Ives’s targets implies about $1.8 trillion in company value attributed to Huang’s leadership.
- The article notes that Apple’s market value rose from $349 billion when Steve Jobs resigned as CEO in 2011 to about $5 trillion under later leaders.
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