Jensen Huang has announced his departure from NVIDIA Corp. (NASDAQ: NVDA), and cryptocurrency punters are skeptical that he will return anytime soon.
Huang Gone for Good?
Polygon (CRYPTO: POL)-based Polymarket currently sees only a 3% chance that Huang returns to NVIDIA by the end of this year, rising to 14% by the end of 2027.
On Thursday, Huang resigned as President, CEO, and Board Director. Executive Vice President and CFO Colette Kress has been appointed interim CEO.
The board has begun searching for a replacement and will consider both internal and external candidates.
Interestingly, President Donald Trump named former Apple Inc. (NASDAQ: AAPL) CEO Tim Cook as his preferred successor, saying, “A Legend replaces a Legend.”
Polymarket bettors, however, give only a 5% chance to Cook as of this writing.
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A Testing Time for NVIDIA
The controversy has widened, with a new report alleging that Huang had an intimate relationship with a second company employee.
Two women are already at the center of the scandal. One is Alice Huang, whom U.S. intelligence officials reportedly suspect of being a Chinese spy. The other is Kimberly Powell, Nvidia’s vice president of health care.
The NVDA stock is down 10% this week and on pace for a sixth straight weekly decline. Huang’s net worth has also taken a hit, with the AI czar falling off Forbes’ list of the world’s 10 richest people.
Price Action: NVIDIA shares rose 0.99% in after-hours trading, according to Benzinga Pro. The stock closed 26.57% lower at $166.19 during Thursday’s regular trading session.
Benzinga’s Edge Stock Rankings indicate that NVDA maintains a weaker price trend over the short, medium, and long terms.
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