Following the resignation of Jensen Huang, the co-founder and CEO of the world's leading artificial intelligence chip company NVIDIA, the company's stock has crashed, while meanwhile, US President Donald Trump has put forward a new name for the CEO position. With the resignation of Jensen Huang, CEO of the world's largest chipmaking company NVIDIA, stock markets around the world appear to be faltering, while in this context, US President Donald Trump has put forward the name of former Apple CEO Tim Cook for the new CEO position. Trump wrote in a social media post that now that NVIDIA CEO Jensen Huang, who has done a fantastic job, has resigned, there is only one person to take his place- former Apple CEO Tim Cook. One legend will replace another.
Why Did Trump Give Advice Without Legal Authority
It's important to note that the US President doesn't have any legal authority to choose or appoint a person to the CEO position of any private company. Through this, Trump is merely trying to send a message to the market, while currently, NVIDIA CFO Colette Kress will serve as the interim CEO. Upon the opening of the US stock market, NVIDIA shares plummeted by up to 12 percent. 85 dollars. This is 34 percent lower than the company's all-time high level. 58 trillion dollars of investors' wealth, which is approximately 149 lakh crore rupees. This loss is even greater than the economies of Indonesia and Saudi Arabia.
The Entire Story And Revelations Of The NVIDIA Scandal
In reality, last week an affair between Jensen Huang and Alice Huang, a former employee of Singapore's cloud computing company Megaspeed, was exposed. US intelligence agencies identified Alice Huang as a Chinese spy. Before this matter could settle, reports of Jensen Huang's affair with NVIDIA Healthcare Vice President Kimberly Powell also came to light. Following these revelations, Jensen Huang had to publicly apologize to his wife and children.
Jensen Huang Falls Prey To Chinese Espionage Network
However, this entire issue turned into a matter concerning NVIDIA and US national security. US President Trump also stated that Jensen Huang fell victim to China's espionage network. Alice Huang is a Chinese spy. She was attempting to supply NVIDIA H-100 and H-200 chips to China. Alice Huang subsequently returned to China, after which NVIDIA initiated an investigation against Jensen Huang. Meanwhile, Jensen Huang resigned even before the company's board meeting took place.