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Nvidia shares plunge as Huang resigns amid spy affair scandal
Nvidia CEO Jensen Huang is stepping down, a move that has clouded the future of the AI chipmaker and sent shares tumbling. The resignation follows an FBI investigation into his affair with an alleged Chinese agent, which has already wiped out about $430–470 billion in market value over two sessions, according to Korea Times reports. The company's board was reportedly preparing to oust Huang, and longtime executive Colette Kress has been named interim CEO. Korean investors, for whom Nvidia is the second-most-held U.S. stock, are rattled by the deepening scandal and falling shares, the Korea Times reports. The Hankyoreh has questioned whether the affair was a Chinese honey trap or simple infidelity, and noted that Huang's one-man rule over Nvidia could be its downfall.
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