Nvidia in turmoil as China denies spying claims

AI Summary

Nvidia shares fell after the company said it would investigate claims involving CEO Jensen Huang and a Chinese businesswoman suspected of passing information to Beijing. China denounced the allegations as a smear campaign, while the report raised concerns about a possible foreign intelligence effort.

Nvidia shares tumbled this Monday after the AI chipmaking giant said it would investigate its CEO's affair with a suspected Chinese spy. There are concerns Jensen Huang was targeted by a foreign intelligence effort following a media report that he had a close relationship with a Chinese businesswoman who allegedly passed information to Beijing. China, meanwhile, has slammed the spying allegations as a "smear campaign".