Jensen Huang resigns as Nvidia CEO: shares sink $320bn in hours
Jensen Huang has stepped down as Nvidia chief executive following revelations of extramarital affairs, triggering a 13% share plunge that wiped $320bn off the chipmaker's value.
Jensen Huang has resigned as chief executive, president, and board member of microchip giant Nvidia with immediate effect. His sudden departure follows revelations regarding extramarital relationships with a company employee and an alleged Chinese spy, throwing the tech powerhouse into turmoil.
Following the announcement, Nvidia shares dropped by up to 13 percent as Wall Street opened, erasing more than 20 billion (£242 billion) from the company's valuation in morning trading. The sharp decline values the Silicon Valley chipmaker at approximately .9 trillion, after shedding 00 billion across the week.
Nvidia announced that chief financial officer Colette Kress will take over as interim chief executive while the board searches for a permanent replacement. Meanwhile, US President Donald Trump publicly suggested that former Apple chief executive Tim Cook should be appointed to lead the semiconductor firm.
Source: The Guardian Photo: Lenharth Systems / StockSnap (CC0)
