Jensen Huang resigns as Nvidia CEO

We have breaking news about NVIDIA, one of the important tech companies in the United States and the world. Jensen Huang is now out of the company he founded. Huang's been caught in a scandal for a week. Amid revelations, he was in an affair with a woman U.S. officials believe is a Chinese agent. NVIDIA's advanced chips are seen as crucial. To the AI race and the company, central to the AI boom that's been driving the U.S. stock market, Philippe de Montigny has been following this story, very fast moving. And these new developments this morning, quite something. Yeah, we were learning that overnight from the Wall Street Journal's reporting that the board of directors had been meeting to discuss Huang's fate within the company. It's obviously a company that he founded. It's a company that he's very much been the face of. He's been kind of a precursor of the AI boom. He's been very much in the ear of U.S. President Donald Trump. And so to see this resignation, obviously on the hands of these two extramarital affairs. Very serious concerns with respect to the stock market. The stock prices, shares were down 10% in pre-market trade. We know that Chief Financial Officer Colette Kress will be stepping in as interim CEO as NVIDIA looks for a permanent successor as she joined the company in 2013 with a business accounting background. Now, obviously, two extramarital affairs, that is no good news for anyone, but surely not the CEO of the SART, second largest, second most valuable company in the world. The New York Times was reporting a second affair with... The with an executive, Kimberly Powell, who reports directly to Jensen Huang. This comes after another revelation of another affair with a suspected Chinese spy, Alice Huang, who has no relation. So, yeah, very, very fast moving news this morning on this. Yeah, indeed. I mean, he has been called. It's irreplaceable. Right. Certainly, this is going to shake the markets. And I know you'll be back when the markets open to talk a little bit about that. But the larger sort of implications of his resignation. Yeah, they're huge. Obviously, NVIDIA has been topping the stock market for years now. It's, as I was mentioning, the second most valuable company in the world after Apple. The chipmaker is kind of responsible for the AI development race that we've been seeing across the world. Obviously, NVIDIA is in a lot of people's stock portfolios. It's in a lot of people's pensions. So, obviously, a lot of people concerned there. The reports of the initial affair with Alice Huang caused a drop in the company's stock price, erasing more than 600 billion US dollars in the last three days. And now we're seeing shares down roughly 10% in pre-market trading.