Nvidia Stock Plunges 8% on CEO Scandal; Board Weighs Succession Plan

Nvidia's stock plunged over 8% to near $160, erasing roughly $600 billion in market value over three days, following revelations about CEO Jensen Huang's two extramarital affairs, including one with a woman suspected of espionage for China. The board is reportedly considering his removal. The Wall Street Journal reports the board is examining Huang's ouster, with the company already seeking potential successors through an external consultant. CFO Colette Kress is mentioned as a possible interim leader, while analysts question whether any executive can replace the founder who transformed Nvidia into the dominant AI chip supplier. The company lacks a public succession plan, heightening concerns about leadership gaps. Baird downgraded the stock to "neutral" and Morgan Stanley removed it from top picks, citing uncertainty beyond the personal scandal. Asian markets showed muted reactions, with modest gains in South Korea and Japan.