Jensen Huang was the only billionaire among the ten wealthiest people in the world to see his fortune shrink on Monday, Forbes reported. The Nvidia chief executive lost $9 billion as the company's shares fell amid an investigation involving a woman accused of being a Chinese spy, according to the outlet.
The New York Times reported that China's top spy agency recruited the woman, who was said to have targeted Huang. The Financial Times reported that the alleged spy pitched AI chip deals to investors. The BBC reported that Nvidia shares tumbled over the investigation into Huang's affair with the woman.
Nvidia's board of directors issued a statement on the matter, though the material available did not include its contents.
The disclosures tie a national security allegation to the head of the world's most valuable chipmaker, and the market reaction was swift enough to move Huang's personal wealth, per Forbes' ranking. The reports come from separate outlets and describe different elements of the same story: the recruitment allegation, the investor pitches and the share decline.
What to watch next: whether Nvidia's board provides further detail on the investigation and how the company's shares trade in the sessions ahead.
