Jensen Huang Watch posted an update
Nvidia lost about $430bn in market value over two sessions as scrutiny of chief executive Jensen Huang intensified, Reuters reports. The figure gives a fresh measure of investor reaction, not proof of the allegations behind the controversy.
Why it mattersReuters says Senate Democratic Leader Chuck Schumer called for tighter chip-export curbs, while Republican Senator Kevin Cramer called for Huang to step down. Nvidia’s board has hired outside counsel to investigate. The company says it has no reason to believe its secrets or US national security were compromised, and that Huang will co-operate. The account includes disputed and unverified allegations about restricted chip shipments and Huang’s relationship with Alice Huang. Reuters says it could not independently verify the reports.
Discuss: How should investors weigh a sharp market reaction when the allegations driving it remain unproven?
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