Nvidia's stock dropped nearly 8% after the New York Times reported that CEO Jensen Huang is involved in a second affair with Kimberly Powell, a senior executive. This comes as Huang is already under investigation for a previous affair with a suspected Chinese spy. The company's market capitalization has decreased by about $1 trillion since the first report. An independent investigation is underway, and experts suggest Huang may need to be placed on administrative leave during this process.
Key facts
- Nvidia shares fell nearly 8% in after-hours trading.
- CEO Jensen Huang is under investigation for two affairs.
- Huang's relationship with a suspected spy was reported on October 29.
- An independent panel is investigating the situation.
- Nvidia hired the law firm Wachtell, Lipton, Rosen & Katz for the probe.
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