Nvidia’s Jensen Huang problem rattles investors
Nvidia shares fell on a report that Jensen Huang had a relationship with an alleged Chinese intelligence asset.
Nvidia CEO Jensen Huang has admitted to being intimate with a Singapore-based executive, who U.S. officials suspect of spying for China. The company is conducting an independent investigation into the matter after reports of a foreign intelligence plot targeting Huang. The accused spy, Alice Huang, is the CEO of Megaspeed, a Singapore-based data center company.
U.S. intelligence chiefs have requested Huang testify at a closed-door briefing on Nvidia's security protocols against foreign adversary espionage. The alleged spying incident occurred amid a rough week for technology stocks on Wall Street, with the tech-heavy Nasdaq index losing almost $1 trillion in value this month. Nvidia's stock has declined by 21% over the last month, and its market capitalization is now just over $4.5 trillion, down from its peak of $5.7 trillion in October.
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