Jensen Huang's affair with alleged Chinese spy further complicates Nvidia’s China problem
The allegations against Jensen Huang have brought new attention to the Nvidia CEO's potential influence over U.S. policy on chip sales to China.
Nvidia shares fell 4.3 per cent on Monday, wiping approximately US$190 billion off the company's market value, according to Channel News Asia. The decline occurred as CEO Jensen Huang admitted to having an affair with Alice Huang, a Chinese executive alleged to be a spy for Beijing. Channel News Asia reports that Nvidia's board announced an independent investigation into the matter on Sunday.
The controversy has drawn attention to Huang's potential influence regarding U.S. policy on chip sales to China, according to CNBC. The Business Times - Companies & Markets reports that the United States has scrutinized the firm over suspicions that it helped Beijing access advanced AI chips. Additionally, the reports note that Huang previously served as an executive at Megaspeed, an Nvidia customer.
While Nvidia bucked a broader tech rebound on Monday, analysts told CNA - Business that the chipmaker's underlying business remains strong. Fortune reports that Nvidia shares saw a rebound in premarket trading following Monday's slide.
Brief written by urgent.news from CNBC, CNA - Business, Channel News Asia, Fortune, The Business Times - Companies & Markets — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
