Nvidia’s Shares Slide As Chip Giant Probes CEO Over Spy Claims

Nvidia shares fell sharply after the company began investigating whether its chief executive, Jensen Huang, had been targeted by a foreign intelligence effort. The allegations have drawn attention to Huang’s position at the world’s most valuable chipmaker, although Nvidia’s board says it has confidence in him.

The probe followed a report alleging Huang had a relationship with Alice Huang, a former executive whom US authorities reportedly investigated as a Chinese intelligence asset; he told staff he had been unfaithful to his wife but gave no details. Nvidia fell nearly 5% in premarket trading, potentially erasing about $250 billion from its market value, while his 3.6% stake and lack of an obvious successor add to questions about the company’s leadership. China’s foreign ministry called the spy claims baseless, and Huang’s daughter cancelled a planned visit to Seoul.