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Nvidia Stocks Falls After Probe Into CEO’s Affair with Alleged Foreign Spy
Nvidia’s board is probing whether the relationship exposed trade secrets as shares fell in early trading, analysts said.
- On Sunday, Nvidia Chief Executive Officer Jensen Huang admitted to an affair with an executive whom intelligence agencies believe was recruited by China, prompting the board to launch an inquiry.
- The Financial Times reported that Alice, a Singapore-based executive at a customer firm, was allegedly recruited by the Ministry of State Security, with officials drafting a memo about the allegations.
- Shares of the $5 trillion company fell in early trading on Monday as Huang wrote a 257-word memo describing the chip maker's crisis, noting his hands-on leadership role in its success.
- Previously, Huang lobbied President Donald Trump to ease restrictions on selling chips to China; Trump backed the leader, calling him "an honorable guy," despite intelligence agency concerns.
- Doubts over the sustainability of the $9 trillion AI boom have sparked a major sell-off in recent weeks, placing Nvidia in a particularly challenging moment as the leading semiconductor maker.
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The New York Ledger
The New York LedgerNvidia shares fall after investigation into CEO's relationship with alleged Chinese spy
Nvidia's stock fell after the company announced an internal investigation into CEO Jensen Huang's relationship with an alleged Chinese spy.
·New York, United States
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Technology's actions fall heavily on Wall Street due to the involvement of its CEO with an alleged Chinese spy.
·Madrid, Spain
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Nvidia is taking a heavy hit on the US Nasdaq stock exchange following the revelation of the affair involving top executive Jensen Huang. At the opening of trading, the stock plummeted by about 8 percent. This would mean that more than 350 billion dollars in market value has been lost. The stock recovered somewhat later, but is still significantly in the red. Nvidia manufactures chips that are used for AI data centers, among other things. In re…
·Hilversum, Netherlands (Kingdom of the)
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Total News Sources44
Leaning Left9Leaning Right10Center8Last UpdatedBias Distribution37% Right
Bias Distribution
- 37% of the sources lean Right
37% Right
L 33%
C 30%
R 37%
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