Nvidia hit by shareholder lawsuit over Jensen Huang’s relationship with suspected Chinese spy – business live

Rolling coverage of the latest economic and financial news The AI poster boy, the ‘Chinese spy’ and Trump: how an affair may have harmed US security Jensen Huang’s image has been shattered. Could he be pushed out at Nvidia? Away from the crisis at Nvidia, a deputy governor of the

Rolling coverage of the latest economic and financial news The AI poster boy, the ‘Chinese spy’ and Trump: how an affair may have harmed US security Jensen Huang’s image has been shattered. Could he be pushed out at Nvidia? Away from the crisis at Nvidia, a deputy governor of the Bank of England has warned that young people in Britain are bearing the brunt of a “low-gear economy”.

Clare Lombardelli told the Guardian that employers are holding back from hiring amid the fallout from the war in the Middle East. “You can have higher unemployment without it exerting a downward pressure on inflation. So that’s obviously a problem.” One reason Nvidia fell so much is that it has positioned itself as the mascot, the face of the AI trade.

The company is at the epicentre of the AI boom, with the most powerful—and premium—product range, financial deals, investment support and broader commitments involving many companies to keep orders coming. And CEO Huang has been a central figure at Nvidia: besides having a far-reaching vision of what AI will look like—and therefore staying a step ahead in terms of business decisions—he has also been involved in politics and helped shape decisions regarding the White House’s China policy within the broader technology war. The risk is: if he has to leave, who will replace the man in the black leather jacket, and what will the broader implications be for Nvidia’s sales, earnings and its ecosystem ?

His departure remains hypothetical, however, and Nvidia’s board has expressed confidence in his leadership while launching an independent investigation. Continue reading...