Nvidia chief executive Jensen Huang had a rather disappointing start to the trading week, with his personal fortune taking a $7.4 billion (Around ₹ 69,520.82 crore) hit in the first half-hour of trading on Monday, November 9, as the firm’s shares slid amid a company investigation into his admission of an affair.
The decline came on the first trading day after Nvidia announced an investigation into Huang. Nvidia shares were down 5.5 per cent at 1:30 pm EST on Monday, after falling as much as seven in premarket trading, according to Forbes, whose report said the sell-off briefly wiped out $10.3 billion (around ₹ 96,747.07 crore) from Huang’s fortune when the stock opened more than seven per cent lower, taking him outside the world’s 10 richest people. In a statement to employees on Sunday, the CEO acknowledged an affair, apologised to his wife, children as well as Nvidia colleagues for his actions and said he supported the probe.
However, it added that it had “no reason to believe that either national security or NVIDIA secrets were compromised. The newspaper cited a memo circulated within the Trump administration. It remains unclear when the two first met, although they were photographed together at a bar in June 2024.
Nvidia’s board said it had appointed a committee of independent directors, along with outside legal counsel, to examine all available information. Alice Huang was recruited by Beijing’s top spy agency to gather information on Jensen Huang for China’s Ministry of State Security, according to The New York Times.
Megaspeed was formed in 2023 after Chinese gaming and cloud computing company 7Road spun off its overseas operations in Singapore. It has also been under US scrutiny over China’s access to Nvidia chips since 2024, when a Commerce Department official found Nvidia equipment still boxed at a data centre site in Malaysia, raising concerns that it could be shipped elsewhere. On Kalshi, speculators project just a 17 per cent chance of Huang going by 2027, according to a CNBC report, which added that the odds rise to 30 per cent by 2028, and 35 per cent by 2029. However, the speculators think there is a 75 per cent probability that Huang will depart by 2031. On Polymarket, speculators project just one-in-four odds that Huang steps down or is forced out by the end of March 2027, according to the report
She has reportedly maintained relationships with other AI chip industry executives, including those at Gigabyte, which assembles Nvidia supercomputers. The company partners with Nvidia and supplies its technology across the Asia-Pacific region.
