How Nvidia CEO Jensen Huang’s resignation impacts the market

Jensen Huang, co-founder and CEO of advanced chipmaker Nvidia, is stepping down from the company following allegations of extramarital affairs. Huang, who helped launch the company in 1993, has been at the helm of Nvidia on its rise to the world’s most prominent maker of advanced micro processors, propelled in large part by the evolution of artificial intelligence development and the sector’s hunger for ever faster and more efficient computing power. Nvidia stock was down around 5% midday on Thursday but the company has shed over $500 billion in value over the past week. While still one of the most valuable companies in the world, Nvidia’s market capitalization is now below the $4 trillion mark for the first time in a year. Huang is the company’s largest individual stock holder and reportedly controls about 3.6% of Nvidia shares.

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