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Nvidia stock plunges as CEO Jensen Huang resigns: How low it might go

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Nvidia stock plunges as CEO Jensen Huang resigns: How low it might go

Nvidia CEO Jensen Huang has just resigned from the company he co-founded amid reports of two alleged affairs, including one with a woman that U.S. intelligence believes is a Chinese spy, according to a bombshell New York Times report.

Thanks to the AI boom, Nvidia has become one of the most valuable companies in the world. And, as a result, Huang had seemingly become the de facto head of the AI industry. Huang's resignation will not only send reverberations through the tech world, but the broader global economy as well.

As of Thursday morning, Nvidia stock had plunged on the news of the affairs and rumors about a possible resignation from Huang. So far, the stock has struggled to rebound after Nvidia's board of directors announced the official CEO transition.

Nvidia stock hit as low as $152 per share when the stock market opened. It's currently trading around $162 per share as of publication time, showing some recovery now that the resignation is official.

Nvidia's Wall Street woes began on Nov. 8 when Jensen Huang confirmed the reports that he had been having an affair. Outlets including the New York Times and Financial Times identified the woman involved as Alice Huang (no relation), an executive at a Singapore-based company, Megaspeed. U.S. intelligence strongly believes that Huang has been working with China's top intelligence agency as a spy, according to the Times.

Since then, Nvidia has lost more than $450 billion in market value. The stock has dropped by more than 27 percent over the past five days of trading.


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