CGS International says the sell-off in YTL Power International “appears excessive” as its colocation data centre business continues to support the group's valuation. (YTL pic)PETALING JAYA: The market capitalisation of YTL Power International Bhd has plummeted by over RM8 billion in the past fortnight amid the turmoil at its US data centre partner Nvidia.
The multi-utility and infrastructure company saw over RM3 billion wiped off its market capitalisation yesterday when its shares fell over over 8% or 39 sen to RM4.40, following reports of another extramarital affair of Nvidia founder and CEO Jensen Huang, who quit his posts at the chipmaker yesterday.
Since US newspapers revealed his affair with an alleged Chinese spy at the end of October, YTL Power’s shares have dropped 18.2% from RM5.32 to RM4.35 today, erasing RM8.71 billion from its market valuation.
