Nvidia shares plunge after CEO Jensen Huang admits to affair, board launches spy probe
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Nvidia shares fell to $172.37 after CEO Jensen Huang admitted to an affair.
- ✓On Sunday, the board started an independent probe into reports that Huang was the target of a foreign intelligence effort.
- ✓The company said, "While the Board has no reason to believe that either national security or NVIDIA secrets were compromised."
Story at a Glance
- Category
- Indian Markets
- Reported By
- Business Today
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
The stock fell to $172.37 shortly after Wall Street opened, hitting a multi-month low as investors assessed the potential implications for Huang's leadership at one of the world's most valuable companies.
Nvidia shares have faced sustained selling pressure in recent months. At $177.77 on November 9, the stock had declined 22.47% over the past month, wiping $51.51 off its share price.
Over six months, the AI chipmaker's shares had fallen approximately 17.4%, from $215.20 in May.
Last month, The New York Times reported that Huang had developed a close relationship with a Chinese businesswoman suspected by US intelligence agencies of passing information to Beijing.
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