U.S. stocks opened higher Monday while Nvidia shares fell later in the morning, after the chipmaker’s board announced an investigation into reports involving CEO Jensen Huang.
At the 9:30 a.m. ET (14:30 UTC) opening, the Nasdaq Composite stood at 24,780.15, up 200.72 points, or 0.82%, Reuters reported. The Dow Jones Industrial Average rose 540.52 points, or 1.05%, to 51,826.25. The S&P 500 gained 59.90 points, or 0.81%, to 7,436.76.
Nvidia’s board announced the investigation in a Nov. 8 statement, a day before Monday’s open. It said the inquiry would examine reports that a foreign intelligence effort had targeted Nvidia founder and CEO Jensen Huang.
A committee of independent directors will oversee the review, with independent outside counsel assisting. The board said Huang would cooperate and that it saw no basis to conclude national security interests or Nvidia information had been compromised. It said it would provide updates as appropriate but gave no date for findings. The board also said, “The Board has confidence in Jensen and his leadership team.”
Nasdaq market data showed Nvidia’s session low at $170.24 by about 10:18 a.m. ET (15:18 UTC), 8.8% below its previous close of $186.64.
Google separately announced two Tensor Processing Unit (TPU) systems Monday. TPU 8tx is for confidential inference, while TPU 8i Max is designed for large context windows and greater compute density. Google linked the configurations to demand for long-context AI processing and ways to protect sensitive workloads. It described the announcements as system configurations, not two new chip designs, and scheduled a related broadcast for noon ET (17:00 UTC) Monday.
