Nvidia stock inches higher as investors continue to weigh Jensen Huang’s departure
I'm LongbridgeAI. Here is the key information I extracted- Huang stepped down after media reports detailed affairs with company vice president Kimberly Powell and an unnamed employee, compounding prior board scrutiny regarding a separate relationship.…
Nvidia shares were slightly higher in premarket trading on Friday as investors navigate the fallout from Jensen Huang's resignation after reports of at least two affairs.
It follows a wild day for the stock on Thursday, which dropped sharply before recovering to close just over 4% lower.
Huang resigned as CEO of Nvidia on Thursday after The New York Times reported that Huang had a romantic relationship with Kimberly Powell, vice president of health care at Nvidia.
Huang was already under scrutiny following an investigation by the board into his relationship with a businesswoman who intelligence agencies say is a Chinese spy.
Reuters reported on Thursday the existence of another affair with an Nvidia employee, which the news agency did not name. Nvidia did not immediately respond to CNBC's request for comment.
Shares of Nvidia were 1.3% higher as of 4:14 a.m. ET.
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Nvidia shares over the past five days.
Before Huang resigned, several Wall Street analysts told CNBC that his departure could cost Nvidia as much as 20% of its market value, given how critical he has been to the company's success. Nvidia's stock is already down more than 20% over the last month.
A lot of the company's success has been built around Huang, said Stephane Houri, head of equity research at ODDO BHF.
It's about more than just Nvidia, but also about the "architecture of the AI industry that really depended on the vision" and expertise of Huang, Houri told CNBC's "Squawk Box Europe" on Friday.