Nvidia finds itself in a free fall this week, after several controversies have resulted in Jensen Huang stepping down as CEO. Huang’s departure was seen as a shocking move and has now sent ripples throughout both the company and, frankly, the US economy. To better understand how we got here, there are three key events that everyone should know about.
When it was first reported that Huang had a relationship outside his marriage, the former CEO did not reveal the full extent of that relationship. But eventually, he did come clean and revealed that he had an affair with a former executive at a Singapore-based company called Megaspeed. At the time, there were other rumors involving Chinese intelligence and potential spying, and while those investigations are not fully closed, there is no strong evidence to support the concerns.
That being said, there were also claims made about Nvidia’s business relationships, with at least $7.5 billion of the company’s chips being sold to Chinese firms. Reports suggest this sale circumvented US export restrictions, and an investigation has been launched as a result.
Then, on November 10, a second affair was reported, this time with Kimberly Powell, Nvidia’s Vice President of Healthcare. As one of Jensen Huang’s direct reports, Powell was seen as a subordinate, further complicating the matter. Even amidst the controversies, it was unclear what the fallout might be, but then the Wall Street Journal reported that Nvidia was looking to force Huang out of his position as CEO.
Source link







