Nvidia shares fell as much as 8% on Monday, briefly threatening to erase about $350 billion in market value as investors weighed the possibility of CEO Jensen Huang’s departure. Nvidia’s board has opened an independent investigation after reports that Huang had a relationship with an executive whom U.S. intelligence believes was recruited by China’s Ministry of State Security.
Huang acknowledged being unfaithful to his wife and pledged to cooperate. The board expressed confidence in him and said it had no reason to believe company secrets or U.S. national security were compromised. The allegations have not established that Huang disclosed sensitive information or knowingly cooperated with foreign intelligence, and the company has announced no findings establishing security failures. The board has not said when its investigation will end.
