Nvidia Stock Falls Over 5% as Board Investigates Alleged Spying on Jensen Huang

Nvidia (NASDAQ: NVDA) shares fell more than 5% to $176.82 in premarket trading on Monday after the company announced an independent investigation into reports that a foreign intelligence operation had targeted CEO Jensen Huang. The investigation follows reporting by The New York Times that U.S. intelligence officials had identified Alice Huang, a former executive at Singapore-based Nvidia customer Megaspeed, as a Chinese intelligence asset who had developed a close relationship with Jensen Huang. Alice Huang is not related to the Nvidia CEO. Nvidia’s board announced the investigation on Sunday and appointed a committee of independent directors, assisted by outside legal counsel, to oversee the review. The board said it had no reason to believe U.S. national security or Nvidia’s secrets were compromised. It also expressed confidence in Huang’s leadership.

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