Asian Stocks Fragile, Nvidia Plummets as Board to Decide CEO’s Fate
Nvidia shares fell after reports its board may remove Jensen Huang amid allegations that have rattled investors and pressured broader markets.
- On Thursday, Nvidia shares plunged more than 8.0 per cent in after-hours trading after reports that its board may oust CEO Jensen Huang, who faces a meeting late Wednesday amid allegations of an affair with a suspected spy for China.
- The New York Times reported that Huang allegedly had an affair with a company executive who reported to him, compounding fallout from espionage allegations as the world's dominant AI chip supplier grapples with the crisis.
- "It looks bad from every single angle," said Jake Dollarhide, chief executive officer at Longbow Asset Management in Tulsa, Oklahoma, adding that the board likely won't act without identifying a replacement "all-star" in the tech sector.
- Markets reacted swiftly, with Nvidia's decline weighing on S&P 500 e-mini futures, which slipped 0.4 per cent, as global stocks wobbled at the start of Asian trade on Thursday.
- Despite this volatility, AI-driven optimism persists, as Westpac analysts noted developments around CoreWeave and Anthropic recently helped the S&P 500 and NASDAQ rally, with Dollarhide stating the Nvidia chip remains the "centrepiece of the AI story.
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Noticias de Navarra
The actions of the technological giant Nvidia plummeted by 7.74 % in the night operations this Thursday, up to $160.28, after having closed the regular session of Wall Street with a rise of 2.92 %, amid the uncertainty generated by the possible dismissal of Jensen Huang by the scandal surrounding him.
Asian shares mostly slip as Nvidia's troubles weigh on AI stocks,
TOKYO (AP) — Asian shares were mostly lower and U.S. futures were mixed Thursday as concerns over leadership at chipmaker Nvidia weighed on artificial intelligence -related stocks. In after-hours trading, Nvidia’s shares fell 8.6% after reports said
Asian stocks fragile, Nvidia plummets as board to decide CEO’s fate
By Gregor Stuart Hunter SINGAPORE, Nov 12 (Reuters) - Global stocks wobbled at the start of Asian trade on Thursday, while Nvidia shares plunged in after-hours trading on news that its board may oust longtime CEO Jensen Huang. Nvidia's board is meetin...
Uncertainty surrounding the future of one of the technology industry's most influential people has once again unsettled investors.
The case of Nvidia CEO Jensen Haung's affair with a possible Chinese agent has made global headlines and pushed the share price down 7 percent on fears that key trade secrets may have gone to China. And now it's getting even worse.
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