Nvidia shares rose 1.3% in premarket trading Tuesday after falling more than 4% Monday, as reports involving CEO Jensen Huang and an executive at a customer drew investor attention, CNBC reported.
The New York Times reported Oct. 29 that U.S. officials had concluded Alice Huang, an executive at Nvidia customer Megaspeed, was a Chinese intelligence asset. The newspaper said she was under scrutiny for possibly steering advanced Nvidia AI chips to China.
In subsequent reporting, The New York Times identified Alice Huang as the woman involved in an alleged affair with Jensen Huang.
In a Sunday email to employees, Jensen Huang acknowledged that he had been unfaithful to his wife. He said he had fallen short of his responsibilities as CEO. Nvidia’s stock declined the following day.
CNBC reported the premarket gain as of 4:20 a.m. ET. Dan Niles had previously said risks involving Huang might not be fully reflected in Nvidia’s valuation and that new facts could lead him to change his Nvidia position.
