Nvidia shares fell as much as 5% on Monday (November 9) following an announcement that the board of directors will investigate Chief Executive Officer Jensen Huang. The inquiry focuses on his relationship with a Alice Huang, a woman suspected by intelligence agencies of being a Chinese spy.
\n\nIn a memo distributed to employees on Sunday, Huang admitted to an extramarital affair, offered apologies to his family and workforce, and confirmed he would participate with the independent board review. The disclosure prompted market analysts to highlight increased key-person risk for the artificial intelligence hardware manufacturer.
\n\nThe market reaction remained concentrated, leaving the broader semiconductor industry intact. Shares in Advanced Micro Devices rose 8% after Oppenheimer analysts changed their stance on the stock to a Buy rating. Broadcom gained 6%, whilst Intel grew by 2%.
\n\nTaiwan Semiconductor Manufacturing Company, the contract manufacturer responsible for fabricating Nvidia designs, saw its stock increase by nearly 2%. ASML, a producer of lithography systems used in semiconductor fabrication, advanced 3%.
\n\nAlso read: Nvidia probe into CEO affair raises thorny questions for AI
\n\nSanDisk shifted upwards by 1%, and memory manufacturer Micron Technology climbed more than 1%, whereas SK Hynix closed with little net variation. Stock price…
Original source: https://www.cnbctv18.com/technology/
