Nvidia Shares Dive Amid CEO Huang’s Spy Affair Scandal
Nvidia shares fell about 4.2% after reports the company opened an investigation into CEO Jensen Huang’s alleged affair with Alice Huang, a Megaspeed executive whom U.S.intelligence says was gathering data for Beijing (they are not related). President Trump defended Huang and saeid he might still invite him on an Asia trip, noting he hadn’t heard of wrongdoing; trump had been briefed on the relationship last year but did not act. Nvidia’s stock closed at its lowest level as April 7.
Shares of Nvidia fell 4.2 percent following reports that the company opened an investigation into CEO Jensen Huang’s affair with an alleged Chinese spy. U.S. intelligence agencies had previously concluded that Alice Huang, an executive at Singapore-based datacenter firm Megaspeed, was gathering information for Beijing. (Alice and Jensen are not related.)
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President Donald Trump defended the Nvidia CEO whom he regards as a close ally. Speaking with reporters, Trump indicated he would still consider bringing Huang on an upcoming trip to Asia, stating, “I haven’t heard that he’s done anything wrong.” Last year, the president was briefed on Huang’s relationship with the Megaspeed executive but opted not to act on the information.
Nvidia is the world’s second-most valuable company. Its shares closed at their lowest level since April 7.
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