From The Tribune
Owned by The Tribune TrustNVIDIA shares plunge over 13% after Jensen Huang’s resignation, recover some losses in early trade
What's behind this
Nvidia Corp. announced on Thursday that long‑time co‑founder Jensen Huang has stepped down as president, chief executive officer and board member with immediate effect. The resignation follows mounting scrutiny over a reported affair with a Chinese businesswoman whom U.S. authorities suspect of Beijing ties, raising national‑security concerns. Huang, 63, ended a 33‑year association with the company. Chief financial officer Colette Kress, who has served in Nvidia’s finance leadership for over a decade, was named interim chief executive. Nvidia shares fell more than 13 % in pre‑market trading, contributing to an estimated $800 billion loss for the week.
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NVIDIA shares plunged more than 13 per cent in pre-market trading on Thursday following the sudden resignation of the chipmaker's Chief Executive Officer Jensen Huang, weighing on investor sentiment ahead of Wall Street's opening bell.