Nvidia Shares Fall Amid Board Meeting Regarding CEO Jensen Huang's Future
Nvidia (NVDA) shares fell approximately 5% in premarket trading as investors reacted to news of an emergency board meeting regarding the potential removal of CEO Jensen Huang. The leadership crisis follows reports of personal misconduct involving Huang and Nvidia's VP of Healthcare, Kimberly Powell, alongside increasing political scrutiny from Senator Elizabeth Warren concerning AI chip exports to China. Wall Street analysts have responded with significant downgrades; Bernstein slashed its price target from $400 to $200, while Baird lowered its target from $500 to $200. The uncertainty surrounding Nvidia's leadership is weighing heavily on the technology sector and Nasdaq futures, even as competitors like AMD and Broadcom see gains.
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Topics: Analyst downgrades Board meeting CEO ouster rumors Regulatory scrutiny Stock price volatility