Nvidia Spy Drama Sparks Second Stock Market Shock in a Week
Shares in Nvidia fell after the company said it would investigate reports its CEO was the target of a foreign intelligence effort.
Shares of Nvidia, a leading artificial intelligence company and one of the world's most valuable publicly traded companies, dropped on Monday following an investigation into potential foreign intelligence targeting its CEO, Jensen Huang. The investigation stems from a report by The New York Times stating that Huang had an affair with a Chinese businesswoman, Alice Huang, who allegedly passed information to Beijing.
Huang, who is not related to Alice Huang, apologized to his family and colleagues for his actions and cooperated with the investigation. Nvidia's board of directors stated that they have no reason to believe that national security or Nvidia's secrets were compromised, but they are still conducting a thorough review. Huang fully supports the review and will continue to lead the company as CEO.
China dismissed the allegations as unsubstantiated and directed at China. Huang, a close ally of President Donald Trump, has been instrumental in the global race for AI supremacy.
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