Nvidia shares fall 3.4% after board probes CEO's ties to foreign intelligence

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Nvidia's shares fell approximately 3.4% in after-hours trading on Monday after the company announced an investigation into potential foreign intelligence efforts targeting CEO Jensen Huang. The decline followed reports that Huang admitted to an extramarital affair with Huang Le, a businesswoman suspected by U.S. intelligence agencies of having ties to Chinese intelligence.

Probe triggers after-hours sell-off

Nvidia's stock and perpetual futures tied to its shares fell in after-hours trading on 9 November, according to The Economic Times. The drop was reflected in perpetual futures on the Hyperliquid exchange and shares trading on the Blue Ocean system. The share price fell approximately 3.4% compared to Friday's Nasdaq closing price, as reported by finance.biggo.com.

CEO admits to affair with suspect

The company indicated that it is investigating potential foreign intelligence efforts aimed at Huang. Marketscreener reported that investors were assessing the consequences of the investigation into the CEO's affair with an industry executive suspected of working for Chinese intelligence. Huang Le is the businesswoman involved in the reported affair.

Market context and broader reaction

Asian stocks bounced on Monday as AI and Mideast jitters receded, with the dollar firm on Fed bets, according to AOL. The Sensex fell over 250 points and Nifty dropped below 24,950, while IT stocks underperformed, as noted by The Economic Times. GIFT Nifty traded higher in early deals, signalling a positive start for Dalal Street.