Doha, Qatar: Nvidia's board is reportedly considering the future of co-founder and CEO Jensen Huang following allegations concerning his connections to a business executive suspected of spying for China, raising questions over who could lead the artificial intelligence chipmaker after more than three decades under his leadership.
The uncertainty has weighed heavily on Nvidia's shares, with the company losing approximately $600 billion in market value this week amid reports of an internal investigation and a possible leadership change.
Nvidia shares closed at $173.73 on Wednesday, November 11, up 2.9 percent during regular trading, before plunging around 8.6 percent to $158.76 in after-hours trading following reports that its board was preparing to discuss Huang's removal.
The company was valued at approximately $4.2 trillion at Wednesday's regular market close, placing it among the world's most valuable publicly traded companies.
The selloff has also affected Huang's personal fortune. According to Forbes, his estimated net worth fell to approximately $145.6 billion during trading on Tuesday, November 10, pushing him out of the world's 10 richest people.
Huang, 63, co-founded Nvidia in 1993 and has led the company since its establishment, overseeing its growth from a graphics chip manufacturer into a leading supplier of processors used in artificial intelligence.
His future has come under scrutiny following reports concerning Alice Huang, a data centre executive suspected by US intelligence agencies of working for China's Ministry of State Security. The allegations have prompted an independent investigation by Nvidia's board.
With no publicly announced succession plan, several senior executives and members of Huang's family have been mentioned as possible replacements should the board decide to remove him.
Among the leading internal candidates is Colette Kress, Nvidia's chief financial officer, whose senior management experience has made her a possible choice to lead the company.
Another name being discussed is Ian Buck, a longtime Nvidia executive who oversees the company's data centre business and played an important role in developing the software supporting its chips.
Bryan Catanzano, Nvidia's vice president of applied deep learning research, has also been mentioned as a possible internal candidate.
Reports have additionally suggested that Huang could seek a successor from within his family.
His daughter, Madison Huang, currently serves as Nvidia's senior director of product marketing, having previously worked at luxury goods group LVMH.
His son, Spencer Huang, who serves as director of product management in Nvidia's robotics division, has also been mentioned as a potential successor.
Outside Nvidia, Lisa Su, CEO of rival semiconductor company AMD and a relative of Huang, is among the executives whose names have been raised.
Rene Haas, chief executive of British chip design company Arm, and former Apple CEO Tim Cook have also been mentioned in speculation surrounding the company's future leadership.
Despite the growing speculation, Nvidia has not announced a leadership change or named a successor.
The company is scheduled to release its quarterly earnings on November 17, with investors closely watching both its financial performance and developments concerning Huang's future.
