US Stock Market Move | NVIDIA Corporation (NVDA.US) extended its premarket decline to 2%; US media reports that headhunters may have begun searching for potential CEO candidates.

On Tuesday, NVIDIA Corporation (NVDA.US) extended its premarket decline to 2%, having earlier risen as much as 2%, and was last at $175.37. NVIDIA Corporation CEO Jensen Huang has been hit by an "extramarital affair" scandal, and the market is focused on succession arrangements at the chip giant. An analytical article said headhunters may have begun searching the industry for candidates, with potential picks including heavyweights such as Advanced Micro Devices (AMD.US) CEO Lisa Su and chip design company Arm Holdings (ARM.US) CEO Rene Haas. Morningstar said that if NVIDIA Corporation Chief Executive Officer Jensen Huang leaves, it could trigger chain reactions across the entire artificial intelligence (AI) industry and weigh on AI trading and financing activity. "We have always believed that NVIDIA Corporation and Jensen Huang are at the core of the AI ecosystem. His departure could lead to reduced deal activity and financing in the AI sector, increased regulatory scrutiny, and stronger political backlash surrounding artificial intelligence," Morningstar senior equity analyst Brian Colello wrote in a report on Monday. He added that NVIDIA Corporation's investigation into Huang "could lead" to the CEO's departure.