Nvidia CEO Huang had relationship with executive who reported to him, NYT reports
The report triggered a shareholder suit, a board investigation and an 8.3% after-hours drop as analysts warned a CEO change could hurt the chipmaker.
- The New York Times reported CEO Jensen Huang had a relationship with Nvidia executive Kimberly Powell, citing colleagues who saw the pair being affectionate at a San Jose hotel during a company conference in March.
- Huang admitted being unfaithful on Sunday, after reports linked him to Alice Huang, a former Megaspeed executive in Singapore whom U.S. officials suspect of spying for China.
- Nvidia shares fell 8.3% after hours to $159.37, erasing about $347 billion from the company's market value since the close and about $658 billion since Friday's prior close.
- Nvidia's board hired Joon Kim, the former acting U.S. Attorney, and law firm Wachtell, Lipton, Rosen & Katz to investigate, while a proposed class action filed in San Jose accuses the company and Huang of hiding the relationship.
- Analysts Tristan Gerra and Tyler Bomba downgraded Nvidia to neutral and cut their price target to $200, citing the need for new leadership to re-establish trust both internally and externally.
31 Articles
31 Articles
Affair, espionage and chips: understand the controversy surrounding Nvidia's CEO The executive president of Nvidia, Jensen Huang, would have maintained another extramarital relationship, this time with an executive of the company itself and who responds directly to it. The information was revealed by the newspaper "The New York Times", based on five former employees of the company. The executive is Kimberly Powell, 48, vice president of the heal…
Nvidia CEO Jensen Huang Accused of Second Affair With Female Executive Working Under Him
Nvidia CEO Jensen Huang faces an unverified allegation involving senior executive Kimberly Powell, days after acknowledging a separate affair linked to a wider board investigation.
Nvidia's board of directors is considering dismissing CEO Jensen Huang, who has been at the center of a scandal involving infidelity. As the possibility of replacing CEO Huang, who has led the company since its founding in 1993, has been raised, market concerns regarding the lack of a successor and the management structure are growing, causing the stock price to plummet in after-hours trading.
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