Nvidia shares slide after allegations

As of November 9, 2026, Nvidia CEO Jensen Huang admitted to having an affair with a businessperson suspected by U.S. intelligence to be a Chinese spy, leading the company's board to initiate an independent investigation. The stock price of Nvidia dropped by 8% after the news was released on October 25, reflecting investor concerns over potential national security issues. On November 8, the Republican-led foreign affairs and intelligence committees requested Huang to testify at a closed-door briefing next week regarding Nvidia’s “security protocols against foreign adversary espionage.” China has rejected these allegations as "smears," while U.S. President Donald Trump spoke with Huang on November 9, expressing concern for his well-being but also indicating an FBI investigation into the affair. The scandal has emboldened Washington's China hawks to push for stricter export controls and increased scrutiny of Nvidia’s dealings with China.