Jensen Huang Hit with Shareholder Class Action After U.S. Market Close, Accused of Defrauding Shareholders

Nvidia's board of directors has announced that it will launch an independent investigation into allegations concerning matters personally associated with CEO Jensen Huang. On the 9th local time, Nvidia's stock price declined, ultimately closing down 4.27% at $178.67 per share, with its market capitalization shrinking by approximately $193 billion (about RMB 1,288.2 billion).

Five minutes after the U.S. market close, Nvidia and Jensen Huang were hit with a shareholder class action lawsuit accusing them of defrauding shareholders. Even before this scandal struck, Nvidia's stock price was already under pressure. Mounting market concerns over the valuations of AI-sector companies, combined with widespread sell-offs across the AI sector, have driven Nvidia's stock down nearly 20% over the past month. (CCTV Finance)