Nvidia shares were slightly higher in premarket trading on Friday as investors worked through the fallout from the resignation of Jensen Huang, the company's chief executive, after reports of at least two affairs. The move followed a volatile session on Thursday, when the stock dropped sharply before recovering to close just over 4% lower.

Huang resigned as CEO of Nvidia on Thursday after The New York Times reported that he had a romantic relationship with Kimberly Powell, vice president of health care at the company. He had already been under scrutiny following a board investigation into his relationship with a businesswoman whom intelligence agencies say is a Chinese spy. Reuters separately reported the existence of another affair, with an Nvidia employee, though it did not name the employee. Nvidia did not immediately respond to CNBC's request for comment.S2

Before the resignation, several Wall Street analysts told CNBC that Huang's departure could cost Nvidia as much as 20% of its market value, given how central he has been to the company's success. The stock was already down more than 20% over the last month. Stephane Houri, head of equity research at ODDO BHF, said much of the company's success had been built around Huang, and that the impact extends beyond Nvidia to the architecture of the AI industry, which depended on his vision and expertise.S2