Nvidia's shares fell 7% after Monday's market opening following CEO Jensen Huang's admission of an affair with a Chinese woman suspected by intelligence agencies of being a Chinese spy, leading the company to launch an investigation.
On 9 Nov 2026, shares of Nvidia, the major US technology company, dropped after Monday's market open when CEO and co-founder Jensen Huang admitted to an affair with a Chinese businesswoman suspected by US intelligence agencies of being a Chinese spy, prompting the company to investigate whether Huang was targeted for espionage.
Nvidia's board stated in a Sunday (8 Nov) announcement that although there is no reason to believe company secrets or national security have been compromised, the board is thoroughly reviewing all available information.
Jensen Huang issued a statement admitting, “I was unfaithful to my wife. My actions have hurt her and our children. There is no excuse for what I did. I deeply regret it.” He also affirmed his commitment to protecting the company and supporting US national security.
After Monday's market open, Nvidia shares plunged about 5%, causing the company's stock price to fall over 20% from last month's peak, wiping out all gains made this year.
While the broader stock market recovered, with the Nasdaq index rising 2.5%, Nvidia shares moved in the opposite direction due to investor concerns over Jensen Huang.
Analysts from firms including Dan Ives of Yorkville Ives & Co. noted that Huang is the core DNA of Nvidia and cannot be easily replaced if the investigation escalates and affects his CEO position.
Some analysts currently view the matter as a 'personal scandal,' but warn that if the investigation uncovers data breaches or more serious issues, the stock sell-off could intensify.
Investors are now focused on Nvidia’s quarterly earnings report due on 17 Nov 2026, to evaluate the long-term impact of the scandal on the AI business amidst volatile tech markets and growing AI investment trends.
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Source:cnn