(Photo courtesy of Anadolu)
ANKARA — Shares of US semiconductor giant Nvidia declined in late trading Sunday following reports that the company’s board had launched an independent investigation into CEO Jensen Huang over allegations involving his personal relationship with a former technology executive.
Nvidia’s stock dropped approximately 4.2 percent during late-night trading on the Robinhood platform, according to reports.
The decline followed allegations that Huang had maintained an extramarital relationship with a former executive of Megaspeed International, who was reportedly suspected by US intelligence agencies of having links to Chinese intelligence.
According to the reports, Huang acknowledged being unfaithful to his wife and issued an apology to employees, board members and shareholders through a company-wide memorandum over the weekend.
The reported investigation was initiated after the disclosure, with an independent board inquiry expected to examine potential concerns arising from the alleged relationship.
Reports also claimed that US Secretary of State Marco Rubio had overseen the preparation of a classified intelligence memorandum earlier this year warning senior administration officials about possible counterintelligence risks.
The allegations involving the former Megaspeed International executive and the reported intelligence assessment have not been independently verified.
Huang reportedly pledged full cooperation with the board investigation while reaffirming his commitment to US national security and Nvidia’s business operations.
Despite the reported controversy, shares of Nvidia’s Asian suppliers showed limited reaction, supported by a broader recovery among US technology-related stocks.
The developments come as Nvidia faces market pressure amid investor concerns over artificial intelligence infrastructure spending and uncertainty surrounding the outcome of the US midterm elections.
Nvidia remains a major supplier of advanced semiconductors used in artificial intelligence systems, data centers and high-performance computing.
The reported investigation adds another issue for investors monitoring the company’s leadership and business outlook.
