Investigations into whether Nvidia’s CEO was targeted by a Chinese intelligence effort are raising questions about the future of the chipmaker. Nvidia became one of the world’s most valuable companies by providing technology that powered the artificial intelligence boom. Jensen Huang has been synonymous with the brand since he co-founded it more than 30 years ago. The company now faces potential damage to its reputation and stock price, uncertainty over a possible successor and new scrutiny from shareholders and elected officials. With a valuation of more than $4 trillion, the company has outsized importance on Wall Street.
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Nvidia CEO Jensen Huang is in the spotlight after revelations of an affair with a purported Chinese spy triggered a board investigation. Huang, a key figure in the AI revolution, co-founded Nvidia in 1993 at a Denny's diner in San Jose, California. Born in Taiwan, he moved to the U.S. at age 9 and later studied electrical engineering at Oregon State University. He met his wife, Lori, there, and they both became chip designers in Silicon Valley. Known for his black leather jacket, Huang is seen as irreplaceable by tech analysts, who say Nvidia's success is heavily tied to him.
South Korea’s benchmark Kospi index has dropped by more than 7% as a sell-off of technology shares deepened after U.S. stocks fell on hotter-than-expected inflation data. The Kospi index lost 7.1% in early trading Thursday to 5,584.83. Samsung Electronics slid 8.2% and South Korean memory chipmaker SK Hynix plunged 10.8%. Japan’s Nikkei 225 fell 3.9% to 65,119.51. OpenAI investor SoftBank Group tumbled 9.1% while chip equipment maker Tokyo Electron dropped 6.3%.
South Korea’s benchmark Kospi index has dropped more than 7% on Tuesday on a sell-off of chip shares and Asian shares mostly declined after U.S. stocks ended mixed. The Kospi index is down 7.4% to 5,914.35, its lowest level since late July. It had reached an all-time high in June after crossing 9,000, supercharged by the global artificial intelligence boom. Samsung Electronics has fallen 7.7%, while memory chipmaker SK Hynix has plunged 8.8%. Japan’s Nikkei 225 has dropped 2.5% to 67,292.39. Chip equipment maker Tokyo Electron has fallen 6.6%. SoftBank Group, an OpenAI investor, has lost 8%.