Shares of Nvidia fell 4.2 percent following reports that the company opened an investigation into CEO Jensen Huang’s affair with an alleged Chinese spy. U.S. intelligence agencies had previously concluded that Alice Huang, an executive at Singapore-based datacenter firm Megaspeed, was gathering information for Beijing. (Alice and Jensen are not related.)
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President Donald Trump defended the Nvidia CEO whom he regards as a close ally. Speaking with reporters, Trump indicated he would still consider bringing Huang on an upcoming trip to Asia, stating, “I haven’t heard that he's done anything wrong.” Last year, the president was briefed on Huang’s relationship with the Megaspeed executive but opted not to act on the information.
Nvidia is the world’s second-most valuable company. Its shares closed at their lowest level since April 7.
