00:00Welcome back. NVIDIA's board of directors held an emergency meeting on Wednesday night to discuss
00:06CEO Jensen Huang's future with the company. This follows a New York Times report alleging
00:12Huang had an extramural affair with an employee separate from the affair with an alleged Chinese
00:18spy. This is a marked shift, as NVIDIA's board previously said that Huang would continue to
00:26lead the business he co-founded without interruption. NVIDIA's shares fell by almost 9% in after-hours
00:32trading on Wednesday. Meanwhile, major financial institutions have downgraded their outlooks on
00:37NVIDIA amid governance concerns. Baird and Bernstein Research lowered their stock ratings and price
00:43targets, while Morgan Stanley removed the chipmaker from its top pick list. Under NVIDIA's bylaws,
00:49Huang can be removed with or without a majority vote of the directors. With no obvious successor,
00:54Huang's potential departure would leave a leadership vacuum. NVIDIA's CFO,
01:00Colette Kress, is emerging as a contender for interim CEO.
