Nvidia stock slides 6% after board probes CEO over alleged China spy affair

Nvidia shares fell 6% in pre‑market trading to $176 after its board opened an investigation into CEO Jensen Huang over an alleged affair with a woman accused of spying for China. The probe follows an internal memo in which Huang admitted unfaithfulness to his wife and apologized to staff. Earlier reports linked the woman, former Megaspeed International executive Alice Huang, to Chinese intelligence, a claim cited by Bloomberg and the New York Times. The stock, already volatile after midterm election results raised doubts about big‑tech AI spending, has slid 22% from its recent peak. Nvidia, the world’s most valuable chipmaker, is due to report earnings on November 17, and the controversy is expected to dominate analyst questions. ## Reaction President Donald Trump called Huang “honorable” and praised his AI contributions, while billionaire investors Bill Ackman and Elon Musk defended him, urging that the matter be a personal affair rather than a security threat. China’s foreign ministry dismissed the spy allegations as baseless smears. The episode also comes as an APEC summit between President Xi and President Trump in Shenzhen looms, adding diplomatic tension. ## Context Board investigations into a CEO’s personal conduct are rare for a company that drives the global AI hardware market. Any finding of a security breach could affect Nvidia’s market value and its role in the US‑China technology rivalry.