Nvidia shares fall after it opens an internal investigation into whether CEO Jensen Huang was targeted by a foreign intelligence effort

What changed

Reuters reported on 9 November that Nvidia shares fell by as much as 8% on Monday, before paring losses to about 6%, after the company announced an internal investigation, on Sunday, into whether chief executive Jensen Huang had been targeted by a foreign intelligence effort. The review followed a New York Times report last month about a relationship between Huang and a former executive of Singapore-based Megaspeed whom US authorities concluded was a Chinese intelligence asset; China's foreign ministry called the claim groundless. Nvidia said its board has confidence in Huang, and most analysts quoted by Reuters do not expect him to step down. Shares in Nvidia's Asian suppliers rose on the day (TSMC up 4.7%), and South Korea's deputy science minister said the government expects no disruption to contracted GPU deliveries. Analysts quoted said a long review could delay investment decisions or product launches. This is a corporate governance matter under review, not a finding against anyone.

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