Nvidia Shares Fall as Board Reportedly Moves to Oust CEO Jensen Huang

At a glance

The Wall Street Journal reports that Nvidia's board is preparing to remove co-founder and CEO Jensen Huang. Amid the scandal surrounding Huang, Nvidia's stock fell about 8% in after-hours trading.

Key points

1. 1

   The board may meet as soon as Wednesday to decide Huang's future at the company.

2. 2

   Huang admitted to an extramarital affair with a woman U.S. intelligence says is a Chinese spy.

3. 3

   The New York Times reported that Huang also had an affair with an executive who reports to him.

4. 4

   Nvidia reportedly has no obvious successor or succession plan.

Why it matters

Nvidia designs the AI chips that power the AI boom and is one of the world's most valuable companies, so a leadership change could affect the wider AI industry and investment flows.