Nvidia probes Huang amid spy claims and succession uncertainty

Nvidia’s board is investigating chief executive Jensen Huang after he acknowledged an extramarital affair, amid allegations from US officials that the other person, an executive at a major Nvidia customer, was working as a Chinese spy. The prospect of Huang leaving has unsettled investors because he co-founded Nvidia and is widely seen as central to its role in the AI boom, while the company has no clearly identified successor.

Nvidia said on Sunday that it would conduct an independent investigation, which may be led by board member Stephen C. Neal. Its shares fell more than 5 per cent in Monday trading, following a wider sell-off in AI stocks; the company had recently lost its position as the world’s most valuable company to Apple. Corporate filings give little detail on CEO succession, despite naming a broad pool of more than 60 direct reports; key executives include finance chief Colette Kress and operations chief Debora Shoquist.