Nvidia Stock Plummets as FBI Probes CEO's Affair With Spy
Nvidia shares dropped nearly 15% after reports of CEO Jensen Huang's affair with a suspected Chinese spy triggered internal and federal investigations.
Shares of Nvidia fell nearly 15% over two trading sessions on November 10, 2026, following reports that CEO Jensen Huang had an affair with Alice Huang, an executive at the Singapore-based data center firm Megaspeed and a suspected Chinese spy. The stock volatility prompted the CNBC Investing Club to downgrade the company from a 1 to a 2, or hold-equivalent, rating.
Nvidia has launched an internal board investigation and published an apology letter from Huang to employees. However, the situation has escalated to federal oversight. President Donald Trump announced that the Federal Bureau of Investigations is probing the relationship. Additionally, an inquiry that began with the Commerce Department was transferred to the Justice Department following intervention by Nvidia.
The company faces further pressure as Democrats, following recent midterm election wins, call for additional investigations. Market turbulence is also being driven by concerns over a slowdown in data center buildouts. These developments occur one week before Nvidia's third-quarter earnings report. Potential outcomes include the removal of Huang from his position or the imposition of new chip export restrictions on countries such as Singapore.
