Nvidia shares fell roughly 8% on Monday, November 9, 2026, wiping out approximately $350 billion in market value following an internal investigation into CEO Jensen Huang regarding a potential foreign intelligence targeting risk.
No final findings or data compromises have been established yet.
The investigation followed reports of Huang's personal relationship with Alice Huang, a former executive at a Singapore-based company that US authorities have linked to Chinese intelligence. The two are not related and their shared last name is a coincidence. Nvidia's chief executive admitted to the extramarital affair in a briefing to employees, without giving further details, while the company's board of directors maintained its vote of confidence in him. China's Foreign Ministry dismissed the reports as baseless accusations and slanderous attacks. There is no conclusion of the internal investigation so far, nor any official finding that sensitive information was handed over.
On the political front, US President Donald Trump said he had been briefed by intelligence agencies about the findings about a year earlier, but did not take action, while expressing a positive view of Huang's work. Analysts and market participants noted that while the case creates temporary uncertainty at a critical time for artificial intelligence infrastructure, the role of the leader remains crucial, especially given that there is no obvious successor within the company.
The fallout from the case spread to Asia, with Madison Huang, the daughter of the company's CEO and executive, canceling a planned visit to Seoul and meetings with local AI firms. In contrast, key Asian suppliers such as TSMC, Samsung Electronics and SK Hynix rose, with analysts saying Nvidia's products remain extremely difficult to replace in the short term.
>Stay connected with Hacks.gr
Set us as a preferred source on Google and find us on social media.
Preferred source
↗
end of article
Top comments (0)