On November 9, Eastern Time, NVIDIA's stock price experienced sharp fluctuations, with its market value evaporating by nearly $200 billion. The market is focused on several questions: Jensen Huang holds only about 3.58% of the shares, and the company has no dual-class share structure—so why can he lead operations for the long term? How does the board of directors check and balance him? And if he loses power or leaves, what changes will occur in the company's operations? NVIDIA has a flat management structure, with no clear second-in-command or successor, and its 60-person core team all reports directly to Jensen Huang. The company uses a single-class common stock structure, and top asset management institutions all hold higher shareholding ratios than Jensen Huang. His dominant management position mainly stems from management authority accumulated over the long term and sustained support from the board of directors and shareholders. According to the company's bylaws, the board of directors may remove him from the CEO position at any time by a majority vote of directors in office, without needing to prove dereliction of duty or violation. At present, most members of the board of directors other than Jensen Huang are independent directors, possessing independent oversight capability. As a founder, Jensen Huang played a key role in NVIDIA's growth into a global leader in AI computing power, and his personal influence is deeply bound to the company. There is a market "Jensen Huang premium"; if he is unable to lead the company, it will trigger "Jensen Huang risk." NVIDIA itself has also warned about risks related to key personnel succession, and in the medium to long term the board of directors needs to find a plan to resolve this risk exposure.