Nvidia’s board met into Wednesday evening to decide whether CEO Jensen Huang, who led the chipmaker for more than 30 years, should remain in his job following the Chinese spy scandal and allegations of a second affair with a company Executive. Stock analysts who follow the company’s every move commented on the situation just hours before Huang’s ouster.
\n\nBreitbart News reported Thursday morning that Nvidia has removed Jensen Huang as CEO, with CFO Colette Kress taking over as interim CEO. CNBC reports that Top stock analysts provided comments and thoughts to investors shortly before the official announcement, sharing their vision of what happens with the AI chip giant after the Jensen Huang era comes to an end.
\n\nCiti analysts Atif Malik and Papa Sylla cut their price target on Nvidia to $225 from $285 overnight. They floated the idea that CFO Colette Kress could step in as interim CEO while the board looks outside the company — which ended up being correct. “If Jensen were forced out, it would mark the end of an era,” they wrote, adding: “Under his leadership, Nvidia became the dominant force in AI infrastructure, the primary beneficiary of the global AI spending cycle, and one…
Original source: https://www.breitbart.com/tech/
