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Nvidia CEO Huang Faces Ouster as Scandal Deepens
Nvidia CEO Jensen Huang is facing the most serious leadership crisis in the company's history, with the board reportedly preparing to oust him amid an affair with a businesswoman alleged to be a Chinese spy. The board met late Wednesday to decide his future, and a shareholder has sued Nvidia and Huang, accusing them of deceiving investors. Nvidia shares have shed about $430–470 billion in market value over two sessions, with the stock sliding on Monday and extending losses Tuesday. Korean shares turned lower Thursday amid the escalating controversies, despite a Wall Street tech rally. Huang has admitted the affair, and the FBI has begun an investigation, tainting his rock-star image in his birthplace, Taiwan. The documents do not report a 13% plunge specifically tied to Huang's resignation, as no resignation has been confirmed.
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