WASHINGTON (dpa-AFX) - Nvidia Corp.'s Board of Directors is considering the ouster of the company's chief executive Jensen Huang after a report about a second affair involving him emerged, reports say.
Nvidia's share price plummeted by more than 7 percent in after-hours trading Wednesday after the report emerged. In the pre-market on Thursday, the shares are down by more than 5%, trading around $163.
Nvidia Board had already initiated an independent investigation over media reports against its founder and CEO being the target of a foreign intelligence effort. The probe comes after he confirmed at the weekend having an affair with Alice Huang, also known as Huang Le.
Alice Huang is a former executive at Singapore-based cloud computing firm Megaspeed International, a major buyer of billions in Nvidia chips with ties to Chinese tech giants like Alibaba.
U.S. intelligence memos alleged Huang was recruited by China's Ministry of State Security to target Jensen Huang and influence him to limit AI chip exports.
The Chinese foreign ministry, however, rejected the claims.
On Wednesday, The New York Times reported that Huang had a second extramarital relationship, with Nvidia's vice president of healthcare Kimberly Powell, who reports directly to him.
NY Times quoted 'five people who worked at the company', who, according to the newspaper, spoke under the condition of anonymity as it was sensitive information.
Following the report, Nvidia's board convened to weigh Huang's future as CEO, U.S. media reported.
Nvidia is the world's second most valuable company that designs computer chips that is high in demand in AI.
The surging demand for Nvidia's AI chips amid the AI boom has made it a chip giant with market cap of around $4.507 trillion. The US has been restricting the export of advanced chips to China in efforts to block it from advancing in technology and military sectors.
Meanwhile, the Chinese government repeated its denial of espionage claims in Hung's case, and accused that it was an excuse by Washington for its 'technological blockade on China.'
'We have already made our position clear on the so-called claims of 'Chinese espionage.' China's technological advances are driven by independent innovation and open cooperation,' Chinese Foreign Ministry spokesperson Mao Ning said at a news conference Thursday.
'The US should stop fabricating so-called espionage narratives and using them as an excuse to impose a technological blockade on China,' he told reporters.
The Nvidia espionage allegations come days ahead of President Donald Trump's visit to China to attend the Asia-Pacific Economic Cooperation summit.
In a press release issued on Wednesday, the U.S. State Department said that at China's request, Secretary of State Marco Rubio spoke with Chinese Foreign Minister Wang Yi. The two discussed Trump's travel to the APEC Summit in Shenzhen next week, and his Chinese counterpart Xi Jinping's upcoming visit to Florida to attend the G20 Summit, it added.
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