Nvidia shares tumble over investigation into Huang's affair with alleged Chinese spy
Summary
Nvidia shares fell about 6% after the company announced an independent investigation into reports that CEO Jensen Huang had been targeted by a foreign intelligence effort. Huang acknowledged an extramarital affair and said he would cooperate; Nvidia said it had no reason to believe company secrets or national security had been compromised.Key Facts
- Nvidia said its board would investigate reports that Huang had been the target of a foreign intelligence effort.
- A New York Times report said U.S. intelligence officials believe Alice Huang, also known as Huang Le, was a spy for Beijing.
- China's foreign ministry rejected the spy allegations as groundless and intended to malign China.
- Huang said he had been unfaithful to his wife, apologized to his family, and would cooperate with the investigation.
- Nvidia shares fell about 6%, reducing the company's market value by roughly $250 billion, according to the article.
- U.S. President Donald Trump called Huang an honourable guy, while other technology executives expressed support for him.
- The article says Huang owns about 3.5% of Nvidia and that the company has no natural successor identified for him.
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