Nvidia shares tumble over investigation into Huang’s affair with alleged Chinese spy

Nvidia's shares have plummeted following an investigation into its chief executive Jensen Huang's affair with an alleged Chinese spy. The technology firm's stock fell by approximately 4% by the end of trading on Monday, wiping out hundreds of billions of dollars in value. The probe was prompted by reports that the US believed China had attempted to spy on Huang through his relationship with Alice Huang, also known as Huang Le.

Huang, who manages a Singaporean company with connections to Nvidia, has admitted to being unfaithful to his wife and has apologized for causing distress to his family. He has stated he is dedicated to safeguarding Nvidia and backing America's national security, and he is prepared to cooperate with the investigation. US intelligence officials believe Huang was involved in a foreign intelligence operation, according to a New York Times report.

Meanwhile, China has dismissed the allegations, describing them as "entirely groundless, speculative, and intended to smear and malign China". Despite the negative impact on Nvidia's shares, US President Donald Trump and other big tech leaders, including Elon Musk, have expressed their support for Huang continuing to lead the firm.