Nvidia shares tumbled more than 8 per cent as trading opened in the US markets hours after the company launched a probe into its Chief Executive Officer (CEO) Jensen Huang over his affair with a woman who is suspected of being a spy for China.
The shares of the artificial intelligence leader were down sharply at pre-market trading on the Nasdaq index, and at the opening bell nosedived more than 8 per cent to $171.80 apiece.
However, it quickly recovered some losses to trade at $177.85 at the time of writing this article. The stock was still down by around 4 per cent.
The revelation of Huang's affair has raised concerns over his future at the company, which he co-founded over 30 years ago, and made it the biggest company in the world over the decades.
Nvidia Launches Probe
Nvidia's announcement regarding the CEO's investigation came hours after Huang's acknowledgement on Sunday that he had been intimate with a business executive. According to a New York Times report last month, US authorities suspected the executive, Alice Huang, was gathering information for China.
In an email to his employees on Sunday, Huang admitted to his affair and said he owed an apology to them and his family.
"I was unfaithful to my wife. My actions hurt her and our children. There is no excuse for what I did. I am deeply sorry," he wrote.
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