Chip-wreck: Nvidia sheds $600bn on Huang exit

Nvidia shares plunged 16 per cent as Wall Street opened on Thursday, wiping nearly $600bn (£460bn) off the chip giant’s market value following the shock resignation of chief executive Jensen Huang. The sell-off spread across the wider tech sector, with AI cloud computing firm Coreweave falling six per cent, while the tech-heavy Nasdaq and S P 500 also opened lower. Huang stepped down after 33 years at the helm of Nvidia following revelations of two extramarital affairs, including one with a woman suspected by US intelligence officials of spying for China. The 63-year-old, who co-founded Nvidia in 1993, had become one of Silicon Valley’s most influential executives after transforming the company into the dominant supplier of chips powering the global artificial intelligence boom. His departure follows reports on Wednesday of a second affair involving Kimberly Powell, Nvidia’s vice president of healthcare, who reported directly to him. Nvidia’s board met on Wednesday eveni