Nvidia stock drops 15% after CEO Jensen Huang resigns

thehill.com —

Nvidia stock plunged nearly 15 percent on Thursday after longtime CEO Jensen Huang resigned amid reports of two extramarital affairs, including one with a woman U.S. intelligence officials believe is a Chinese spy. The chipmaker’s shares fell to $148.80 at the opening bell, down 14.4 percent from Wednesday’s close, before rebounding to about 8 percent lower within 45 minutes. The board announced Huang’s resignation following a New York Times report, and CFO Colette Kress will serve as interim CEO. Huang founded Nvidia in 1993, and the board praised his “profound” contributions. Sen. Elizabeth Warren said Huang and the board still owe Congress answers about compliance with U.S. export controls, citing national security concerns.


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