Gotrade News - Nvidia (NVDA) shares slid more than 4% on Monday, November 9, after its board opened an investigation into CEO Jensen Huang's affair with a woman U.S. authorities reportedly view as a Chinese intelligence asset, while President Donald Trump said the FBI is looking into the matter, according to Investing.com.
The scrutiny lands on a stock already under pressure. Nvidia sank 21% over the past month amid an AI stock rout and is now in the red for the year, as reported by Yahoo Finance, which also cited news of two new AI chips from Alphabet that compete with Nvidia's offerings.
NVDA, AMD and AVGO Market Data
| Ticker | Close | Daily change | Market cap | 52-week range |
|---|
| NVDA | $178.67 | -4.27% | $4.31 trillion | $164.27 to $243.37 |
| AMD | $508.58 | +13.26% | $834.1 billion | $188.22 to $658.52 |
| AVGO | $319.48 | +8.78% | $1.53 trillion | $289.77 to $495.00 |
Regular-session close on November 9, 2026, New York time. Prices and changes: Yahoo Finance, cross-checked against the closing price on Nasdaq.com. 52-week range: Yahoo Finance daily highs and lows since November 10, 2025. Market cap: that close times the shares outstanding on the latest 10-Q or 10-K cover (SEC EDGAR).
Nvidia (NVDA): Trump Says the FBI Is Looking Into the Matter
Speaking to reporters at a White House press briefing on Monday, Trump said, "I know the FBI is looking into (Huang) and I think that he'll be in good shape," according to Investing.com. He added: "I asked him that question. Did you have any idea that she was a spy?"
Per Yahoo Finance, Trump said the FBI is looking into it "in terms of something else" and called Huang "an honorable guy." Investing.com noted that Trump has developed a close relationship with Huang over the past two years and brought him on several state visits, most notably his Beijing trip earlier this year.
Nvidia (NVDA) Board Sees "No Reason to Believe" Secrets Were Compromised
Nvidia's board said in a Sunday statement that a committee of independent directors, assisted by outside counsel, will oversee its investigation into the reports about Huang, and that it has "no reason to believe that either national security or Nvidia secrets were compromised," as reported by Yahoo Finance. Huang admitted the affair in an email to employees on Sunday, writing "There is no excuse for what I did. I am deeply sorry," and said he remains "fully committed to Nvidia," per the same report.
The woman, Alice Huang, is a former executive of a Singapore-based Nvidia client and is not related to the CEO; U.S. authorities reportedly concluded she was a Chinese intelligence asset, according to Investing.com. Yahoo Finance identified the client as Megaspeed, which denies diverting chips to China, and cited a New York Times report that the Justice Department is running a criminal inquiry into Megaspeed.
Jeffries Seeks a Full Nvidia Briefing and China Chip Limits
House Democratic leader Hakeem Jeffries said Congress needs more answers about Nvidia, as reported by Reuters via Investing.com. A classified briefing for congressional leaders on Monday briefly discussed Nvidia but mostly focused on Iran, according to Jeffries.
"We're going to need a full briefing specifically as it relates to the Nvidia situation." (Hakeem Jeffries, House Democratic leader, as reported by Reuters)
Jeffries said he "strongly supports" restrictions on U.S. chip sales to China in the final annual defense bill. The Senate's version of that bill would give Congress more authority over AI chip exports to China, press U.S. allies to restrict sales of chipmaking equipment to China and require businesses to track AI chips abroad to combat smuggling, per Reuters. The U.S. has effectively blocked most advanced chip sales to China since 2022, while Huang has repeatedly urged Washington to allow more sales, according to Investing.com.
Lawmakers from both parties also weighed in. Democratic Senator Chris Coons called for an investigation to "determine whether our national security was compromised," Investing.com reported, while Republican Representatives Mast, Moolenaar and Crawford asked Huang to appear voluntarily for a closed-door briefing by next week or propose an alternative date by Wednesday, per Yahoo Finance. "It is vital that Congress determines the extent to which U.S. national security has been placed at risk," the three Republicans wrote.
Will Huang Stay as Nvidia (NVDA) CEO?
Analysts said it appeared unlikely, for now, that the scandal would lead Huang to step down, according to Investing.com, which noted governance concerns because Huang, who has led Nvidia since co-founding it in 1993, has few potential successors.
Patrick Moorhead of Moor Insights & Strategy does not expect Huang to be pushed out unless the investigation finds something, as reported by Yahoo Finance. Wedbush analyst Matt Bryson said the board's initial statement reduces the chance of an ouster, but that Huang will likely lose some credibility with U.S. government representatives, per the same report.
Nvidia's slide did not spread to its peers on Monday morning. Other chip stocks, including Advanced Micro Devices (AMD), Broadcom (AVGO), Intel, Sandisk and Micron Technology, were unscathed and rose along with broader markets, according to Yahoo Finance.
Nvidia's moves still carry weight for the broader market, since the company makes up nearly 7% of the S&P 500, according to Yahoo Finance's Jared Blikre.
This article is for education and information only and is not investment advice. Investment decisions are yours to make after your own research.
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