Nvidia (NASDAQ: $NVDA) Shares Drop 5% as Company Investigates Reports of Foreign Intelligence Targeting CEO Jensen Huang.
Nvidia shares fell more than 5% to $176.82 in Monday’s premarket trading after the company announced an independent investigation into reports that a foreign intelligence operation had targeted CEO Jensen Huang. The reports identified Alice Huang, a former executive at Nvidia customer Megaspeed, as an alleged Chinese intelligence asset who had developed a close relationship with the CEO. She is not related to Jensen Huang. Nvidia’s board said it had no reason to believe the company’s trade secrets or U.S. national security had been compromised.
The investigation has raised concerns about corporate governance and leadership stability. Jensen Huang has pledged to cooperate with the review and remain CEO. The company is scheduled to report its third-quarter results on November 17.
#Crypto
Nvidia shares fell more than 5% to $176.82 in Monday’s premarket trading after the company announced an independent investigation into reports that a foreign intelligence operation had targeted CEO Jensen Huang. The reports identified Alice Huang, a former executive at Nvidia customer Megaspeed, as an alleged Chinese intelligence asset who had developed a close relationship with the CEO. She is not related to Jensen Huang. Nvidia’s board said it had no reason to believe the company’s trade secrets or U.S. national security had been compromised.
The investigation has raised concerns about corporate governance and leadership stability. Jensen Huang has pledged to cooperate with the review and remain CEO. The company is scheduled to report its third-quarter results on November 17.
#Crypto