Why NVIDIA's South Korea AI event went into disarray
What's the story
NVIDIA hosted an AI partnership event in Seoul yesterday, but the absence of Madison Huang, a senior director and daughter of CEO Jensen Huang, created a stir. Madison withdrew her participation over the weekend citing a "family matter," Bloomberg reported. Her withdrawal led to the cancellation of a scheduled meeting with Science & ICT Minister Bae Kyung-hoon.
Event
The company declined to comment
NVIDIA Vice President Ashish Karandikar and Principal Product Marketing Manager Jesse Clayton represented the company at the event.
However, organizers only allowed a couple of pre-arranged questions for them, all related to AI collaboration.
At the end of the ceremony, NVIDIA agreed to one more question after reporters insisted on it.
The company declined to comment on Madison's withdrawal or the scandal involving her father.
Strategic alliance
Jensen Huang has been a prominent figure
Despite the controversy, Jensen Huang has been a prominent figure in South Korea, even hosting public meals with business tycoons.
At the event, NVIDIA announced a partnership integrating its open infrastructure platform into AI chips from start-up Rebellions and SK Telecom's AI data center.
The move highlights NVIDIA's commitment to advancing AI technology through strategic collaborations.
Spy allegations
Multiple reports have linked Jensen to Alice Huang
Multiple reports have linked Jensen to Alice Huang, a former business executive suspected by US intelligence of spying for China. She is not related to the NVIDIA CEO.
The company's board has launched an independent investigation into these allegations after reports that Jensen was targeted by foreign intelligence.
A committee of independent directors with outside legal counsel is overseeing the inquiry.
Apology and denial
Jensen has apologized to his staff for being unfaithful
Jensen has apologized to his staff for being unfaithful to his wife. The board has no reason to believe that either national security or NVIDIA secrets were compromised. Meanwhile, China's Foreign Ministry spokesperson Guo Jiakun called the "so-called Chinese spy narrative" unsubstantiated.
Market impact
NVIDIA's stock price fell by about 6%
Following the scandal, NVIDIA's stock price fell by about 5% to 6% in premarket trading on Monday.
The company is set to report its fiscal third-quarter results on November 17.
Despite the controversy surrounding his personal life, Jensen remains committed to leading NVIDIA as CEO without interruption, a company spokesperson said on Sunday.