AI2 min read

Musk says hiring Nvidia's Huang would be an honor as board reviews his role

Nvidia shares dropped almost 8% before the open on 12 November, with about $600 billion of value lost since the claims surfaced.

Published
NVIDIA · TESLA: $600B

Key takeaways

  • Musk posted on X on 12 November that hiring Huang would be an honor.
  • The post followed a report that Nvidia's board met to discuss Huang's position.
  • Nvidia shares fell almost 8% in premarket trading on 12 November.
  • The report says about $600 billion of market value has been lost since the investigation.
  • Nvidia has not commented on the claims or the board's review.

Musk's offer

Elon Musk wrote on X on 12 November that he would consider it a privilege to bring Nvidia's chief executive, Jensen Huang, onto his own payroll. The post appeared in the small hours of that day, as reported by Finbold.

Musk's message followed a report that Nvidia's board met on Wednesday to weigh whether Huang should remain in his job. The board's discussion came after fresh claims that the co-founder had romantic ties to a more senior figure at the chipmaker.

In the same message Musk praised the company he part-owns a supply relationship with. He said the Star Mind computer, a machine being developed jointly by SpaceX and Nvidia, surpasses most expectations and is due to enter high-volume output next year. Musk added that working alongside Nvidia's engineers gives him real pleasure.

What is alleged

According to the report, Huang is said to have had extramarital relationships. One is said to involve Alice Huang, who is suspected of being a Chinese agent. The New York Times reported on 11 November a further relationship, this time with Kimberly Powell, described as a senior Nvidia executive. None of these claims has been confirmed by Nvidia or by the people named.

Huang and Musk are longstanding acquaintances and business partners. Nvidia supplies the graphics processors, or GPUs, that Tesla uses to train models for driverless cars and robots. Both men travelled with President Donald Trump on his China trip this year. About a month ago Musk publicly said Huang 'rocks'.

Share reaction

Traders sold Nvidia stock as the claims circulated. The shares fell almost 8% before the market opened on 12 November, and the company's market value has dropped by roughly $600 billion since the investigation became public, the report says.

The article has not said whether Nvidia's board has reached a decision, and neither Huang nor the company has commented publicly on the claims. It is also unclear when the board's review will conclude or whether any vote will be taken.

Sources

1 report
  1. FinboldDid Elon Musk just become Jensen Huang’s boss?

This article was prepared by BattleTown Newsroom from the reports listed above.

This story is for information only. It is not financial, investment or legal advice. Disclaimer

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