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Nvidia stock rises as pressure mounts following alleged China spy links
CNBC • • business
Key Points:
- Nvidia shares fell over 4% on Monday after CEO Jensen Huang admitted to an affair and acknowledged falling short in his leadership responsibilities.
- The affair was reportedly with Alice Huang, an executive at Megaspeed, an Nvidia customer, who U.S. officials allege is a Chinese intelligence asset funneling information to Beijing.
- The New York Times reported that Alice Huang may have been involved in steering advanced Nvidia AI chips to China, raising national security concerns.
- U.S. President Donald Trump confirmed that the FBI is investigating the matter, though he expressed confidence that Jensen Huang would be "in good shape."
- In premarket trading on Tuesday, Nvidia shares rebounded, trading 1.8% higher as investors continued to assess the potential impact of the revelations.
