GoKawiil
Tech News
Nvidia shares dropped in premarket trading after reports that the company's board met to discuss whether to remove cofounder and CEO Jensen Huang. The discussions follow unspecified controversies surrounding Huang's leadership.
Nvidia's board said Sunday it will conduct an independent investigation into CEO Jensen Huang after he admitted to an extramarital affair reportedly involving an executive at a major Nvidia customer whom US officials allege was acting as a Chinese spy. Nvidia shares fell more than 5% by midday Monday trading amid the fallout, and Washington policymakers are pressing Huang to testify before congressional committees.
Eric Gullichsen, who served on Nvidia's Technical Advisory Board from 1993 to 1996, says he was granted 25,000 stock options but only 15,625 vested before he left, due to a discrepancy over whether his options were meant to vest quarterly or annually. He argues that after 30 years of stock splits, the missing 9,375 options would now be worth roughly $1 billion, and he is disputing Nvidia's account of the vesting terms.
Nvidia approved a new $150 billion share repurchase program on Monday, raising its total buyback authorization to $235 billion through fiscal 2028. The company posted $96.2 billion in quarterly revenue, up 106% year-over-year, and returned about $26 billion to shareholders in the second quarter of fiscal 2027 through buybacks and dividends.