Nvidia Shares Fall as Board Probes Reports on CEO
An independent committee of directors will oversee the inquiry into whether CEO Jensen Huang was targeted in a foreign intelligence effort, the company said.
Nvidia shares fell about 3.4% in out-of-hours trading after its board began an inquiry into whether CEO Jensen Huang was targeted by foreign intelligence.
Nvidia’s board is investigating whether CEO Jensen Huang was targeted in a foreign intelligence effort, according to Reuters. Shares fell about 3.4% in out-of-hours trading, to around $180.30 from Friday’s Nasdaq close of $186.64.
What Prompted the Inquiry
The probe follows media reports of a close relationship between Huang and a Chinese businesswoman who was previously investigated by US authorities over suspected links to Beijing. The New York Times reported the relationship last month. An independent committee of directors, supported by outside legal counsel, will oversee the inquiry.
Company Statement
Nvidia said its board had no reason to believe US national security or its confidential information had been compromised. It also said the board has confidence in Huang and his leadership team.
Trump’s Comment
US President Donald Trump said he had not discussed the allegations with Huang. He said he hoped everything was fine and added, “He’s done such an incredible job.”
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