Nvidia stock falls 5% as scrutiny turns to Jensen Huang’s relationship with alleged Chinese spy
Nvidia said its board has launched an independent investigation following the reports that Huang was the target of a "foreign intelligence effort."
Nvidia shares were down around 5% in premarket trading Monday after the tech giant was rocked by an investigation into CEO Jensen Huang's relationship with a businesswoman who intelligence agencies say is a Chinese spy.
U.S. intelligence agencies said Alice Huang, an executive at cloud company Megaspeed, has been passing information to Beijing, according to reports in The New York Times and The Financial Times.
Nvidia said its board has launched an independent investigation following the reports that Huang was the target of a "foreign intelligence effort."
Huang "fully supports the review and has committed to cooperating with it," the company said in a Sunday statement .
The co-founder and CEO told staff in an email that he had "fallen short" of his responsibility to serve his colleagues, the board, partners and shareholders around the world.
"I was unfaithful to my wife. My actions hurt her and our children. There is no excuse for what I did. I am deeply sorry," Huang said in the email.
China's Foreign Ministry spokesperson Guo Jiakun said on Monday the "so-called Chinese spy narrative" was unsubstantiated, Reuters reported.
Why it is marked verified
2 independent newsrooms report this story. CNBC published it first, 2 h before the last one.
- CNBC8 Nov, 23:49
- The Guardian9 Nov, 01:25
| Publisher CNBC (reference tier) | +82 |
| Detailed summary | +2 |
| Carried by 2 newsrooms | +5 |
| Total | 89 |
Method: reports are grouped by the words of their headline and summary; each newsroom counts once; figures are read from the reports as published. Nothing here is written by an AI.