Jensen Huang's exit sends Bitcoin to 12-week low

Résumé détaillé

Nvidia’s CEO resigned after days of affair and spy reports. Bitcoin fell to its lowest level in about 12 weeks.

Nvidia co-founder Jensen Huang resigned as CEO on Thursday, ending 33 years at the top of the chipmaker he built into a company worth about $4 trillion. Bitcoin fell to about $69,600 the same day, its lowest level in about 12 weeks.

The announcement did not give a reason and did not include a statement from Huang. It came six days after Huang told employees he had been unfaithful to his wife.

Related: Nvidia CEO Jensen Huang resigns after Binance traders priced in his exit

Huang, 63, co-founded Nvidia in 1993 and has led it ever since. Its graphics chips became the standard hardware for training and running AI models, which made Nvidia the biggest beneficiary of the AI boom.

Nvidia shares traded near $15 before ChatGPT launched and reached an all-time high of $243 last month, TechCrunch reported. Huang owns about 3.6% of the company, according to Reuters.

Related: Traders open $9.1 million in Nvidia shorts as CEO admits to affair

On Sunday, Nov. 8, Nvidia's board said it was investigating reports that Huang was the "target of a foreign intelligence effort," according to the Associated Press.

The board acted after Huang told it he had been intimate with a business executive. The New York Times reported that U.S. intelligence determined she was gathering information for Beijing.

In a letter to staff, Huang said he had been unfaithful to his wife, apologized and took "full responsibility."

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