OMM Newsroom
“Nvidia” shares fell late Sunday after the company’s board launched an independent investigation into CEO Jensen Huang over an extramarital affair he admitted to, Anadolu Agency reported.
The semiconductor company’s stock dropped about 4.2% in late-night trading on the “Robinhood” platform.
Shares of “Nvidia”’s Asian suppliers largely shrugged off the news, as US technology stocks broadly rebounded.
The internal investigation began after Huang acknowledged being unfaithful to his wife and apologized to employees, board members and shareholders in a company-wide memo over the weekend.
The inquiry follows media reports alleging Huang had a relationship with a former “Megaspeed International” executive suspected by US intelligence agencies of acting as a Chinese intelligence operative.
US Secretary of State Marco Rubio reportedly oversaw the preparation earlier this year of a classified intelligence memo warning senior administration officials about counterintelligence concerns related to the relationship.
Huang pledged to fully cooperate with the independent board inquiry and reaffirmed his commitment to US national security and the company’s operations.
The development adds pressure on the artificial intelligence chipmaker, whose stock has faced selling pressure since last month amid concerns about technology spending and the outcome of the US midterm elections.
