The end of an era
#JensenHuang resigns as CEO of #NVIDIA following a spying scandal, and shares plunge more than 10%
Historic departure
Jensen Huang leaves his position as chief executive after 33 years at the helm of the chip giant, replaced on an interim basis by CFO Colette Kress.
Stock market plunge: The company's shares suffered a sharp drop of more than 10% (to $155.70), reflecting investors' uncertainty amid the corporate crisis.
Scandal and relationships: The resignation comes after extramarital relationships were revealed, highlighting a connection with a businesswoman linked to a Chinese client whom U.S. intelligence is investigating as a possible spy, as well as another internal relationship with a company vice president.
Investigation and political pressure: The board of directors hired the firm Wachtell Lipton to investigate allegations of circumventing export controls and national security risks, at a time of growing political pressure in Washington.
Impact on the AI ecosystem: The departure of the so-called "Mr. AI" shakes the foundations of the entire tech industry, given that Nvidia acts as the central hub, supplier, investor, and financial partner of virtually the entire sector.
#CyptoNews
$NVDAB
$TSMB
#JensenHuang resigns as CEO of #NVIDIA following a spying scandal, and shares plunge more than 10%
Historic departure
Jensen Huang leaves his position as chief executive after 33 years at the helm of the chip giant, replaced on an interim basis by CFO Colette Kress.
Stock market plunge: The company's shares suffered a sharp drop of more than 10% (to $155.70), reflecting investors' uncertainty amid the corporate crisis.
Scandal and relationships: The resignation comes after extramarital relationships were revealed, highlighting a connection with a businesswoman linked to a Chinese client whom U.S. intelligence is investigating as a possible spy, as well as another internal relationship with a company vice president.
Investigation and political pressure: The board of directors hired the firm Wachtell Lipton to investigate allegations of circumventing export controls and national security risks, at a time of growing political pressure in Washington.
Impact on the AI ecosystem: The departure of the so-called "Mr. AI" shakes the foundations of the entire tech industry, given that Nvidia acts as the central hub, supplier, investor, and financial partner of virtually the entire sector.
#CyptoNews
$NVDAB
$TSMB
