Nvidia\u2019s board is reportedly weighing whether to remove co-founder and Chief Executive Officer Jensen Huang, days after opening an independent investigation into reports that he was the target of a foreign intelligence effort.<\/p>\n
According to reports, Nvidia directors were meeting late Wednesday to discuss Huang\u2019s future, although the company has yet to announce a decision on his position.<\/p>\n
The development coincided with a 6.53% decline in Nvidia\u2019s shares to $162.38 in overnight trading, according to figures cited by Yahoo Finance.<\/p>\n
The stock had closed Wednesday\u2019s regular US trading session at $173.73, up 2.92%, before reports of the board deliberations reversed those gains.<\/p>\n
The Wall Street Journal first reported that Nvidia was preparing to remove Huang as chief executive, following the launch of an independent investigation into allegations involving his personal relationships.<\/p>\n
Reuters subsequently reported, citing a person familiar with the matter, that directors were meeting late Wednesday to decide his future.<\/p>\n
The reported discussions represent a potential shift from the board\u2019s earlier expression of confidence in Huang and his leadership team.<\/p>\n
When Nvidia announced the investigation, it said Huang had committed to cooperating with the independent committee overseeing the inquiry.<\/p>\n
The board also stated that it had no reason at the time to believe US national security or the company\u2019s confidential information had been compromised.<\/p>\n
Huang remains Nvidia\u2019s chief executive pending any official announcement about his position.<\/p>\n
Nvidia announced on Sunday that a committee of independent directors, assisted by external legal counsel, would oversee an investigation into allegations involving Huang.<\/p>\n
The inquiry followed reports concerning his relationship with Alice Huang, a former executive at technology company Megaspeed, whom US intelligence officials reportedly suspected of acting as an intelligence asset for Beijing.<\/p>\n
Citing people who worked at Nvidia, the newspaper reported that Huang and Powell were seen being affectionate at a hotel during a company conference in March.<\/p>\n