Nvidia stock falls 10% as CEO Jensen Huang announces resignation
CNBC reports Nvidia shares fell as much as 10.5% premarket after CEO Jensen Huang announced he is stepping down as CEO and board member following his admission to an affair; the Financial Times and New York Times report affairs with Megaspeed executive Alice Huang, whom U.S. officials suspect of spying for China, and Nvidia executive Kimberly Powell. Bernstein halved its price target to $200, analysts said Huang's departure could sink the stock 20%, and Nvidia says CFO Colette Kress will serve as interim CEO while Harvey C. Jones becomes the board's first chair.
