By Aimee Picchi
Publication Date: 2026-11-09 14:15:00
Nvidia’s stock price dropped nearly 6% before U.S. financial markets open on Monday amid questions about CEO Jensen Huang’s future at the chipmaker, following the board of directors’ investigation into allegations that China targeted him in an intelligence operation.
The investigation is raising concerns about Huang’s role at the company, which he co-founded and helped build into the world’s second-most valuable company, with a $4.5 trillion valuation. Nvidia is barred from selling its high-end chips, specifically designed to power artificial intelligence models, to China due to competitive concerns.
Nvidia shares sank $11.05, or 5.9%, to $175.49 in premarket trading.
The allegations center around reports that Huang had a close relationship with Alice Huang, who U.S. intelligence officials believe was a spy for China’s Ministry of State Security, the country’s main intelligence agency. On Sunday, Nvidia’s board said it is starting an “independent investigation” into the allegations, sparking questions about the CEO’s future with the company.
“This is a black eye moment for Jensen and will spark multiple congressional inquiries at a minimum and will create an overhang on the stock for a myriad of reasons,” Dan Ives, a tech analyst at Yorkville Ives, said in a research note. “The key question investors will be asking is: Will Jensen remain CEO of Nvidia?”
Ives added, “There is clearly risk that Jensen could be removed as CEO depending on the board investigation, and…
