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Chinese billionaire refuses to invest in Nvidia 'without Jensen' after CEO quits over affairs scandal
New York Post • • business
Key Points:
- Chinese billionaire Leo KoGuan announced he will cease further investments in Nvidia following the resignation of CEO Jensen Huang amid revelations of Huang's extramarital affair.
- KoGuan, who previously invested about $1.3 billion in Nvidia, stated he still believes in the company's future trajectory but is choosing to invest in other semiconductor companies and plans to increase investments in SpaceX and Alphabet.
- Huang's resignation has caused Nvidia's stock to drop 6%, raising concerns about the company's future without its long-time leader, who has been closely identified with Nvidia's success over the past 30 years.
- Nvidia's market value decline could have wider implications, as the company holds $48 billion in stakes across more than 200 companies and plays a central role in the AI industry.
- KoGuan publicly praised Huang's leadership and expressed hope to invest in any future ventures Huang might create, highlighting his continued confidence in Huang's capabilities despite the scandal.
