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The Singaporean company Megaspeed, at the center of the scandal engulfing Nvidia, on Thursday issued its first public statement since the scandal erupted.

Nvidia’s board of directors reportedly met late Wednesday to determine the CEO’s fate.

Huang fueled his company and the AI ecosystem with advanced chips and creative financing deals across the supply chain. What happens if he’s gone?

Mr. Huang has been under scrutiny for an affair with a woman said to be a Chinese spy, as well as for a relationship with an executive at his A.I. chip company.

Stock futures were sliding Wednesday evening as a selloff in shares of Nvidia after the closing bell weighed on the Nasdaq-100 and dragged down shares of other chip makers.