Singapore investors snap up Nvidia shares after CEO Huang resigns
Singapore retail investors rushed to buy Nvidia shares after CEO Jensen Huang resigned on Thursday, with trading activity on some platforms surging up to 13 times daily averages, betting on long-term growth despite the sell-off. Huang resigned following an alleged espionage scandal involving a Chinese businesswoman and a separate affair with a company vice president, sending shares down 14% at the US open and 4.3% at close, wiping about US$490 billion off market value this week. Investors remained net buyers, with some hedging via put options. Nvidia appointed CFO Colette Kress as interim CEO while seeking a permanent replacement. Analysts noted continued AI demand supports fundamentals, but warned of volatility around earnings on Nov 17 and a congressional briefing Nov 18. Some investors held off, awaiting leadership clarity.