Nvidia is thinking about Huang's succession, with son-in-law Caprez in pole position

Jensen Huang, Mr Nvidia, returned to his office on Monday with a clear intention to convey the idea of a situation under control and of operations proceeding as 'business as usual', ahead of the quarterly results on November 17. The storm unleashed by his extramarital affair with Alice Huang, a top executive at Megaspeed suspected of being a Chinese spy, is unlikely to die down any time soon, to the point that analysts have underscored the need to prepare for what was unthinkable until a few days ago: succession. Meanwhile, new tension is set to build in relations between the US and China. With the AI microchip giant built and shaped by Huang over time, the natural candidate to lead the California-based company could be Nico Caprez, his son-in-law. Although his children hold roles at Nvidia, he is a frontrunner as successor, should the conditions arise: a former skier and currently vice president for global AI infrastructure development, Caprez has played a primary role in Nvidia's AI initiatives and is considered a trusted advisor to Huang, a factor that is by no means secondary. The affair has many dark corners and intricate entanglements with the US administration, including doubts about the role of President Donald Trump. According to the NYT, the tycoon was informed in May, aboard Air Force One during the trip to China, of the classified intelligence information revealing Mr Nvidia's critical relationship with Alice Huang, a 43-year-old Chinese citizen with a past in the financial sector in Shanghai before her leap into the tech industry and the founding of Megaspeed, a Singapore-based company believed to be active in the illegal sale of highly advanced microchips to China. No action was taken on that occasion, and Mr Nvidia has since continued to be central to the administration's AI and microchip policies, despite the evident national security concerns. Treasury Secretary Scott Bessent, according to Axios, discussed with Commerce Secretary Howard Lutnick the failure to include Megaspeed on the blacklist of companies deemed a threat, in a meeting held Thursday in the White House Situation Room, the day after the midterms. Over the past year, Lutnick reportedly blocked attempts by other administration officials to sanction Megaspeed for fear that doing so could intensify the trade war with Beijing. US Ambassador to Beijing David Perdue stated that "the relations we have with China at the moment are rather turbulent. The situation with Nvidia is a further reminder that we must remain vigilant. National security is an integral part of this economic debate, because economic security is synonymous with national security," Perdue noted. Shortly after, Chinese Foreign Minister Wang Yi told his US counterpart Marco Rubio that Beijing is "willing to strengthen" cooperation with Washington, ahead of the meeting between Presidents Trump and Xi Jinping on the sidelines of the APEC summit in Shenzhen on November 18-19. The US Congress, however, is sharpening its weapons both to summon Huang and to impose new restrictions on the export of highly sensitive microchips. Meanwhile, Nvidia can breathe again on Wall Street: after two nightmarish sessions, with a cumulative loss of nearly 10% and over 400 billion in market capitalization wiped out, the stock posted a 5% rebound. NYT: Jensen Huang also had affairs with an Nvidia manager. Shares plummet Jensen Huang, the Nvidia CEO under investigation for a relationship with a woman identified by American intelligence as a Chinese spy, also had an extramarital relationship with an executive who worked under his direct supervision. This is what five people at the company told the New York Times. She is Kimberly Powell, Nvidia's vice president for healthcare. According to Nvidia's code of conduct, employees must "avoid situations in which their actions could create conflicts," including "personal relationships." Huang and the 48-year-old Powell, who is also married, were caught on video exchanging displays of affection at a hotel in San Jose, California, during a company conference held in March. Nvidia shares fell sharply by 7% in after-hours trading, following the New York Times' publication of the news of CEO Jensen Huang's new affair with a manager at the company. CNN reports this. Reproduction reserved © Copyright ANSA