Nvidia shares tumble over investigation into Huang’s affair with alleged Chinese spy
Hundreds of billions of dollars have been wiped off the value of Nvidia after the US chipmaker announced an independent investigation would be carried out into its chief executive's affair with an alleged Chinese spy.
Nvidia's shares plummeted following an announcement of an independent investigation into its CEO Jensen Huang's extramarital affair with an alleged Chinese spy. The tech company's market value saw about $250bn wiped due to the news, as shares fell by 6%. Huang admitted to being unfaithful to his wife and apologized for hurting her and their children.
He also expressed his commitment to protecting Nvidia and supporting American national security, and pledged to cooperate with the investigation. Despite the scandal, other tech executives, including Elon Musk, defended Huang and urged him to continue leading the firm. The US President, Donald Trump, also praised Huang, calling him an "honourable guy."
However, China rejected the allegations, stating they were groundless and intended to smear China. Nvidia's CEO is unique in the tech industry as he holds a relatively small stake and operates under a single class voting structure, making it difficult for him to veto board decisions. Analysts believe the investigation will not lead to Huang stepping down, but the outcome will be closely watched.
Written by urgent.news from KahawaTungu's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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