Nvidia shares tumble as board investigates reports of China-linked spy claims
Nvidia shares tumbled as its board launched an investigation into reports that CEO Jensen Huang was targeted by a suspected Chinese intelligence operation involving a businesswoman.
Nvidia shares plummeted on Monday following reports that US intelligence officials suspect a Chinese businesswoman, allegedly close to Nvidia's CEO Jensen Huang, may have been engaged in an intelligence operation targeting the chipmaker. Beijing has denied these allegations. In response, Nvidia's board initiated an independent investigation into reports that Huang could have been a target of foreign intelligence efforts.
Nvidia's stock fell more than four percent after closing nearly nine percent lower earlier in the trading session. Alice Huang, a Chinese executive linked to Singapore-based data centre company Megaspeed, reportedly passed information to Beijing, according to The New York Times. Huang acknowledged he had been unfaithful to his wife, expressing deep regret for his actions.
US President Donald Trump, a close friend of Huang, expressed no regret for not acting on the intelligence findings a year ago. Nvidia's board stated they have no reason to believe national security or Nvidia secrets were compromised, but the inquiry will examine all available information.
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