Nikkei rises 1.4%, Hang Seng down 0.9% on Nvidia CEO exit
Asian stocks steadied, with Japan's Nikkei up 1.4% and Hong Kong's Hang Seng down 0.9%, as Nvidia's CEO resignation weighed on AI stocks.
Jensen Huang resigns as Nvidia CEO after affairs with a Chinese spy and a subordinate; CFO Colette Kress becomes interim CEO.
Jensen Huang is stepping down as CEO after relationships with a Chinese spy and a direct report, Nvidia announced.
Colette Kress, the company's CFO, will take over as CEO on an interim basis.
The first reported relationship was with Alice Huang, also known as Huang Le, a former executive at Megaspeed who is reportedly an intelligence agent for China.
A second affair was reportedly with Kimberly Powell.
Powell serves as Nvidia's vice president of healthcare and reports directly to Huang.
Reportedly, the Commerce Department under Howard Lutnick had halted an investigation into Megaspeed, referring it to the Department of Justice, and Lutnick was warned about the relationship between Jensen and Alice.
A rule that hopes to limit China's remote access to GPU clusters is reportedly nearing finalization at the Commerce Department.
“There is only one man to take his place — TIM COOK of Apple,” Donald Trump has suggested.
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Asian stocks steadied, with Japan's Nikkei up 1.4% and Hong Kong's Hang Seng down 0.9%, as Nvidia's CEO resignation weighed on AI stocks.
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