Nvidia stock falls after chief executive admits affair with alleged spy

Nvidia Chief Executive Jensen Huang confessed on Sunday that he had an affair with a suspected Chinese spy, the Daily Mail reported. The announcement caused shares in Nvidia to drop by more than five percent in premarket trading on Monday morning. According to the Daily Mail, the company is on track to lose around $200 billion in market value once official trading starts. [1]

The Daily Mail reported that the 63-year-old chief executive admitted to cheating on his wife, Lori. He engaged in an affair with Alice Huang, a former executive at Singaporean data center firm Megaspeed International. She allegedly passed information to Beijing. Both of Huang's children also work at Nvidia, where they face a difficult public situation following the revelation. [1]

Nvidia is an American technology company based in Santa Clara, California, that was founded in 1993 by Huang, Chris Malachowsky, and Curtis Priem. The company manufactures graphics processing units, systems on chips, and artificial intelligence hardware. As FTMQ News reported earlier, Nvidia previously raised the price of its Shield TV Pro device to $299 in October due to an artificial intelligence memory shortage. [3][5][6]