Following the US chipmaker’s announcement that an independent inquiry would be conducted into its chief executive’s suspected liaison with a Chinese spy, hundreds of billions of dollars have been wiped off Nvidia’s valuation. Following Jensen Huang’s admission of having an extramarital affair, the tech company’s stock dropped by almost 6% on Monday. Following claims that the US thought the Nvidia CEO was the target of a Chinese espionage operation, Nvidia launched an investigation.
China’s foreign ministry has denied the allegations, stating that they were “entirely groundless, speculative, and intended to smear and malign China.” In a statement, Nvidia’s board of directors stated that the company would launch an investigation “in light of recent reporting that founder and chief executive Jensen Huang has been the target of a foreign intelligence effort” even though the company had no reason to suspect that its secrets or national security had been compromised.
According to a New York Times article, US intelligence agencies think Alice Huang, also known as Huang Le, was a Beijing spy. According to the article, Secretary of State Marco Rubio warned senior Washington officials in a document last spring that the head of Nvidia had a strong contact with a Chinese agent. Megaspeed, a Singaporean startup with ties to Nvidia, employed Alice Huang as managing director.
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