Nvidia stock falls after company opens probe into CEO Jensen Huang over alleged affair with Chinese spy

TECHNOLOGY Nvidia stock falls amid probe into CEO Jensen Huang over alleged affair with Chinese spy The probe follows claims Huang was targeted by a Chinese intelligence effort. Nvidia stock fell on Monday in the first trading session since the chip giant said it opened an investigation into CEO Jensen Huang amid allegations of a Chinese intelligence-gathering effort targeting him. ABCNews By Max Zahn Monday, November 9, 2026 7:50PM Share Nvidia stock fell on Monday morning in the first trading session since the chip giant said it opened an investigation into CEO Jensen Huang amid allegations of a Chinese intelligence-gathering effort targeting him. Shares of Nvidia fell more than 4%, putting the stock price at $178.83. The board of the California-based firm initiated an "independent investigation in light of recent reporting that founder and CEO Jensen Huang has been the target of a foreign intelligence effort," the company said in a statement Sunday. The investigation will be overseen by a "committee of independent directors, assisted by outside independent counsel," Nvidia added. MORE: Nvidia announces investigation of CEO amid foreign intelligence target allegations Huang "fully supports the review" and will cooperate with it, the Nvidia statement noted. Nvidia soared to prominence in recent years through selling many of the chips behind the artificial intelligence boom. The company has defied skeptics with strong revenue quarter after quarter, despite political backlash against data centers and looming concern about a financial bubble in AI. As of Monday morning, Nvidia boasted a value of more than $4 trillion as measured by market capitalization, making it the world's second-largest company. Apple is currently the largest. Stocks in the U.S. climbed overall on Monday, recovering some of their losses from a selloff last Thursday. The Dow Jones Industrial Average increased 1.4%, while the S & P 500 increased 1.7%. The tech-heavy Nasdaq jumped 2.2%. The New York Times reported late last month that Jensen Huang was targeted by a Chinese espionage plot centered around a woman they identified as Alice Huang, a top executive at Singapore-based data company Megaspeed, whom U.S. intelligence officials determined was funneling information to Beijing and had developed a "close relationship" with Jensen Huang. Massie introduces impeachment articles against Defense Secretary Pete Hegseth 29 minutes ago Suspected homicide on MSC Seascape cruise ship in Galveston, Texas prompts FBI Houston response, agency says 2 hours ago Man dead, 4 hurt, including 2 firefighters, in Upper Manhattan apartment fire 3 hours ago The Chinese government denied the allegations, calling them "baseless and purely slanderous smears against China." Neither Alice Huang nor her employer, Megaspeed International, responded to ABC News' request for comment after the New York Times story broke. "Jensen's interactions with Ms. Huang are not unusual or unexpected" and are part of Jensen Huang's job, an Nvidia spokesperson told ABC News at the time. However, Nvidia on Sunday shared with ABC News an internal message Jensen Huang sent to employees, in which he said he was "unfaithful" to his wife. "My actions hurt her and our children. There is no excuse for what I did. I am deeply sorry," the message said, in part. It did not name Alice Huang nor any other person. Addressing Nvidia staff, partners and shareholders, Huang went on to say, "my responsibility is to serve you and be worthy of your trust. I have fallen short of that responsibility. I am fully committed to NVIDIA and will work to earn back your confidence." "I love our country and our company. I am committed to protecting NVIDIA and supporting America’s national security. I am proud and grateful to be an American," Huang's message said. This is a developing story. Please check back for updates. ABC News' Chris Watson contributed to this report. Report a correction or typo Copyright © 2026 ABC News Internet Ventures. Related Topics TECHNOLOGY SANTA CLARA CHINA BUSINESS INVESTIGATION STOCKS Watch Live ON NOW Massie introduces impeachment articles against Hegseth 29 minutes ago 'Suspected homicide' on MSC cruise ship prompts investigation: FBI 2 hours ago Man, 80, dies in fire that tore through cluttered apartment 3 hours ago Governor Mikie Sherrill names her pick for lieutenant governor 12 minutes ago 'I'm In Deep Pain': Mother of jogger murder suspect speaks out Freight train crashes into garbage truck, FedEx truck also crashes Mayor Mamdani announces upgrades to NYC's winter preparedness plan At least 19 runners hospitalized after falling ill during half marathon