Nvidia shares fell about 4.35% on Nov. 9 as the board investigated reports involving CEO Jensen Huang and former Megaspeed executive Alice Huang. (Foto: Instagram)
Nvidia shares fell about 4.35% on Monday, Nov. 9, after the company’s board opened an investigation into reports of a possible extramarital relationship between CEO Jensen Huang and Alice Huang, a former executive at Singapore-based Megaspeed. Alice Huang, who is not related to the CEO, is being investigated on suspicion of passing information to the government in Beijing. The board inquiry began Sunday, Nov. 8.
The stock decline came as global markets edged up from six-month lows. Nvidia shares fell more than 6% at one point on the Frankfurt exchange.
The BBC reported that Jensen Huang acknowledged being unfaithful to his wife and said he took full responsibility for his actions. He also said he had failed in his responsibilities to Nvidia’s employees, board and shareholders. “I was unfaithful to my wife. My actions hurt her and our children. There is no excuse for what I did. I deeply regret it,” he said. Huang added that he supported the investigation and would cooperate fully.
In a statement, Nvidia’s board said it would investigate “in light of recent reports that founder and CEO Jensen Huang was targeted by a foreign intelligence operation.” The board said it had no reason to believe that national security secrets or Nvidia’s secrets had been compromised, but that its investigation would examine all available information.
