Nvidia Shares were slightly higher in premarket trading Friday as investors deal with the fallout from Jensen Huang’s resignation following the announcement of at least two affairs.
This follows a wild day for the stock on Thursday, which fell sharply before recovering to close down just over 4%.
Huang resigned as CEO of Nvidia on Thursday after The New York Times reported that Huang was romantically involved with Kimberly Powell, vice president of healthcare at Nvidia.
Huang was already under scrutiny following a commission investigation into his relationship with a businesswoman who intelligence agencies say is a Chinese spy.
Reuters reported Thursday about another affair with an Nvidia employee, whom the news agency did not name. Nvidia did not immediately respond to CNBC’s request for comment.
Nvidia shares were up 1.8% as of 5 a.m. ET.
Nvidia shares over the last five days.
Before Huang’s resignation, several Wall Street analysts told CNBC that his departure could cost Nvidia as much as 20% of its market value, given his critical role in the company’s success. Nvidia’s stock is already down more than 20% over the past month.
Much of the company’s success rests on Huang, said Stéphane Houri, head of equity research at ODDO BHF.
It’s not just about Nvidia, but also “the architecture of the AI industry that really depended on Huang’s vision” and expertise, Houri told CNBC’s “Squawk Box Europe” on Friday.
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