Nvidia ($NVDA) shares fell around 8% in Thursday’s premarket trading as CEO Jensen Huang faced new relationship allegations, a board investigation and congressional scrutiny over his ties to Megaspeed founder Alice Huang.
- The New York Times reported an alleged relationship with healthcare vice president Kimberly Powell, citing five people who worked at Nvidia. Nvidia declined comment; Powell did not immediately respond.
- The board investigation follows Jensen Huang’s acknowledgment of an affair with Alice Huang. China denies allegations that she was a Chinese intelligence asset.
- Bloomberg reported Alice Huang is in Beijing. Singapore barred her from reentry in February and continues investigating Megaspeed and six others. Authorities said she was not investigated for espionage.
- Senator Kevin Cramer urged Huang to step aside and supported a subpoena if he refused to testify.
- Nvidia reported $4.69 million in federal lobbying spending through September. Disclosed issues include chip export controls, semiconductor trade and AI legislation, with Congress, Commerce and the National Security Council among entities contacted.
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- Nvidia ($NVDA): Faces board and congressional scrutiny involving its CEO.
Editor’s Note: This is a developing story. This article may be updated as more details become available.
