Nvidia's out-of-hour shares fall as firm probes CEO Jensen Huang
The probe has raised questions about Huang’s future and sent Nvidia shares down about 3.4%, traders said.
- Nvidia shares fell about 3.4% in out-of-hours trading on Monday after an internal investigation into whether CEO Jensen Huang was targeted by a foreign intelligence effort put his future at the chipmaker under scrutiny.
- The probe follows reports that Huang had a relationship with Alice Huang, a former executive at Singapore-based Megaspeed, whom United States authorities concluded acted as a Chinese intelligence asset.
- Chris Weston, head of research at Pepperstone, said the market is reacting to conjecture, though he believes Huang, the "godfather of AI," would not be replaced despite scrutiny.
- President Donald Trump said Sunday he had not spoken to Huang but called him a "fine person," while Tesla CEO Elon Musk agreed the actions were "bad for America."
- While Asian suppliers Samsung and TSMC rebounded on Monday, Madison Huang cancelled a planned Seoul visit; South Korean officials expect no disruptions to Nvidia deliveries.
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13 Articles
Shares in chip giant Nvidia – the world's second-highest-valued listed company – are falling sharply in futures trading on Tradegate. The decline is around 5.8 percent early Monday Swedish time, according to Bloomberg.
The technology went up this Monday and recovered some of last week's heavy losses caused by AI's regulatory fears, while investors follow the investigation to Nvidia's head, Jensen Huang
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Nvidia's out-of-hour shares fall as firm probes CEO Jensen Huang
The investigation has put a spotlight on Jensen Huang's future given Nvidia's status as the world's most valuable chipmaker and his role as the most prolific salesman of the AI boom.
Nvidia is back at the center of the stock market turbulence. The actions of the US semiconductor manufacturer recorded sharp declines in negotiations outside the time of Monday, after his board of directors announced an independent investigation into the relationship of its CEO and co-founder, Jensen Huang, with a Chinese entrepreneur suspected of working for Beijing intelligence services. The news has rekindled doubts about the future of the le…
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