Nvidia Shares Decline Following Announcement of Independent Probe into Chief Executive

Shares of artificial intelligence chipmaker Nvidia declined sharply on Monday following the company's announcement that an independent investigation would be conducted into Chief Executive Jensen Huang. The market reaction followed reports that US intelligence officials suspect the Nvidia boss was targeted in an espionage campaign by China.

Nvidia's board of directors stated that a committee of independent directors, assisted by outside counsel, would undertake the probe. The inquiry was initiated in light of reporting that Huang had been the target of a foreign intelligence effort involving Alice Huang, also known as Huang Le, who managed a Singaporean company with business dealings with Nvidia. US intelligence officials allege she acted as a spy for Beijing, according to reports by The New York Times.

Jensen Huang admitted to an extramarital affair in an email to employees, apologising to his family and stating that he would cooperate fully with the internal investigation. He added that he remains committed to protecting Nvidia and supporting US national security. Nvidia stated that it had no reason to believe company secrets or national security had been compromised.

The developments have drawn attention from US lawmakers. Members of the House Foreign Affairs Committee requested that Huang appear for a joint closed-door briefing next week to discuss his interactions and Nvidia's security protocols regarding espionage. Lawmakers cited significant national security concerns regarding access to sensitive US technology.

In response to the announcement, several prominent figures and business leaders expressed support for Huang. US President Donald Trump told reporters that Huang is a fine person who has done incredible work. Tech entrepreneur Elon Musk and venture capitalist Shaun Maguire also voiced backing for the Nvidia chief, arguing that his leadership remains vital for American artificial intelligence capabilities.

Meanwhile, the Chinese foreign ministry rejected the allegations concerning Chinese spies, describing them as entirely groundless and speculative.