Symbolic imageNvidia opens board probe after CEO Huang admits affair with suspected Chinese agent
Nvidia's board is investigating CEO Jensen Huang after he admitted an affair with a woman US officials suspect of spying for China. The shares fell before Monday's open.
Huang confirmed the affair in an email to staff on Sunday, 8 November. The board said the inquiry, run by board members and external investigators, examines reports that he was a target of foreign intelligence efforts. It sees no reason to believe national security or company secrets were compromised and keeps its confidence in him. Days earlier, Nvidia had described the contacts as ordinary dealings with a customer's representative.
Megaspeed link and Beijing's denial
The woman, Alice Huang, is unrelated to him and was a senior executive at Singapore-based Megaspeed, which bought Nvidia chips worth billions. The New York Times reported in late October that US intelligence concluded she passed information to Beijing; China called this unfounded speculation.
Trump backs Huang, FBI looks into case
Trump called Huang an honorable guy and said he would take him on next week's China trip. He later said the FBI is examining the case, without saying whether Huang is a target.
Investors weigh key-man risk
Nvidia, valued at $4.5 trillion, lost almost six percent in premarket trading, according to FAZ. The Financial Times warns that leading AI firms rely dangerously on single executives.