Nvidia shares fall 4.3% as CEO Jensen Huang affair sparks governance concerns

Nvidia shares fell 4.3% on Monday, bucking a broader tech rebound, after CEO Jensen Huang admitted to an affair with a Chinese executive alleged to be a spy. The drop erased about US$190 billion in market value. Nvidia was the only decliner in the Philadelphia Semiconductor Index, which rose 7% as other chip stocks rallied. The company's board launched an independent investigation into whether Huang was targeted by foreign intelligence, while analysts said the underlying business remains strong. Huang faces a shareholder lawsuit and a US congressional briefing request. Nvidia reports quarterly earnings on Nov 17, with investors watching for governance concerns amid strong AI chip demand and expected revenue of about US$108 billion.