Nvidia shares plunge amid Jensen Huang spy probe
The gist
Nvidia's board opened an independent probe after reports CEO Jensen Huang was targeted by a foreign intelligence effort.
The chipmaker's shares fell as the spy claims and a Megaspeed probe stayed unconfirmed.
How it unfolded
- Oct 29, 2026The New York Times reported that U.S. intelligence agencies suspect Alice Huang, linked to Megaspeed, of passing information to Beijing; the report offered no evidence Jensen Huang knowingly took part.
- Oct 29, 2026Jensen Huang said Nvidia's dealings with Megaspeed International were "normal and not unusual"; Nvidia said meetings with customers are routine and the CEO was not warned about intelligence concerns.
- Oct 30, 2026Nvidia shares traded at USD 212.43, down 1.37% in the last day, with a market cap of $5.20 trillion.
Key terms
- G7
- An intergovernmental forum of seven major advanced economies plus the EU, coordinating on political and economic issues.
- Secretary of State
- The head of the US Department of State who directs foreign affairs, equivalent to a minister of foreign affairs.
- export restrictions
- Legislation regulating the export of goods, software and technology, often requiring exporters to obtain a licence.
Source: Wikipedia