Nvidia shares fall after report of CEO investigation

Nvidia stocks fell Monday following news that CEO Jensen Huang was the target of a “foreign intelligence effort.”

The New York Times first reported Huang’s affair with a suspected Chinese spy last month. On Sunday, Nvidia’s board announced an investigation, and Huang issued a statement to employees posted on their website, admitting to the affair.

The AI chip supplier is the second highest valued company in the world, behind Apple and ahead of Microsoft, Google and Amazon. Its total market capitalization is estimated to be more than $4 trillion.

Founded in 1993, Nvidia started selling stocks to the public in 1999 at a value of four cents a share. The company’s focus was graphics processing units, or GPUs, for video gaming.

The value of the company didn’t take off until the launch of ChatGPT in 2022. At that time, the value of a share was about $17. Now, the bulk of its revenue is made from data centers.

Nvidia stock already took a tumble last week, dropping 10% from closing Thursday to closing Friday. Thursday was the worst day for major stock indexes since April 2025, according to Yahoo Finance. The declines impacted Nvidia along with other AI chipmakers.