Nvidia shares fall after CEO Jensen Huang admits affair with alleged Chinese spy, prompting investigation
Nvidia's stock dropped nearly 8% following Jensen Huang's admission of an affair with Alice Huang, an alleged Chinese intelligence asset, and a Senate call for a probe into possible national-security risks.
Nvidia's shares slipped almost 8% in pre-market trading after chief executive Jensen Huang acknowledged an affair with Alice Huang, who U.S. authorities have described as a Chinese intelligence asset. The company said it has opened an internal investigation to determine whether the relationship compromised its operations.
Senator Chris Coons, a Democrat from Delaware, urged a probe, stating, "We need answers about the relationship between Artificial Intelligence (AI) billionaires and the Trump administration, who’s making these decisions, and who’s really got their hand on the wheel."
President Donald Trump defended Huang, noting that he had spoken with the CEO, who claimed he was unaware of any espionage involvement, and confirmed that the FBI is already examining the matter.
In an email to Nvidia employees, Huang said he had been unfaithful to his wife and accepted full responsibility for his actions. The stock decline follows the company's recent peak in October.