Overview
- The board convened Wednesday and is preparing options that could include removing founder and CEO Jensen Huang after reports of multiple extramarital relationships surfaced.
- Nvidia’s independent directors launched an inquiry overseen by outside counsel Joon H. Kim and retained Wachtell, Lipton, Rosen & Katz while hiring a search firm to vet possible successors.
- New reporting identified a second alleged affair with an Nvidia vice president who reported to Huang, intensifying governance concerns about conflicts of interest and workplace oversight.
- Investors drove a steep sell-off this week that wiped out roughly $600 billion to $671 billion of Nvidia market value as shares fell about eight percent in after-hours trading.
- Federal and congressional scrutiny is active, with Commerce and Justice interest reported, an FBI probe acknowledged by the president, and House chairs seeking a closed-door briefing on November 18 and threatening subpoenas while investigators probe large Megaspeed purchases that U.S. officials say could have enabled diversion of restricted chips.