NVIDIA's stock price fell by about 5% before trading started on Monday, following the tech giant being impacted by an investigation into the relationship between its CEO Jensen Huang and a businesswoman. Intelligence agencies claim that this woman is a Chinese spy.
According to reports by The New York Times and The Financial Times, U.S. intelligence agencies claim that Megaspeed, a cloud computing company, its executive Alice Huang, has been continuously passing information to Beijing.
NVIDIA stated that following these reports, the company's board of directors has initiated an independent investigation, which alleges that Jensen Huang is a target of "foreign intelligence operations."
The company issued a statement on Sunday stating that Jensen Huang “fully supports this review and has committed to cooperating with the investigation.”
In an email sent to employees, the co-founder and CEO stated that he felt he had "failed in his duties" towards his colleagues, the board of directors, partners, and shareholders worldwide.
Jensen Huang said in the email, "I was unfaithful to my wife. My actions hurt her and our child. There is no excuse for what I did. I deeply regret it."
Reuters reported that Guo Jiakun, a spokesperson for China's Foreign Ministry, said on Monday that the claims of "Chinese spies" are "lacking in basis."
As of the pre-market trading session, NVIDIA's stock price has fallen by 4.8% so far.
This is breaking news. Please refresh to see the updates.
