Nvidia shares have come under significant pressure following reports of multiple alleged extramarital relationships involving its co-founder and former CEO, Jensen Huang. The controversy first became public on October 29, 2026, when reports emerged about Huang's close relationship with Alice Huang, a Chinese business executive suspected by US intelligence agencies of having links to Chinese intelligence.
Nvidia shares closed at $213.66 on October 29. However, the stock began declining from the following trading session, closing at $204.64 on October 30, a drop of 4.22%. The shares continued to lose ground and closed at $166.19 on November 12, marking a decline of approximately 22.22% from their October 29 closing price.
The controversy intensified after reports revealed two additional alleged relationships involving Huang and Nvidia employees. One with Nvidia's vice president of healthcare, while another involved a second, unnamed company employee, according to reports citing people familiar with the matter.
Amid growing pressure, Huang resigned as Nvidia's president and CEO on November 12, effective immediately. The company appointed Chief Financial Officer Colette Kress as interim CEO while its board begins searching for a permanent successor.
Shares fell as much as 14.3% during Thursday's trading session before recovering partially to close at $166.19, down 4.34% for the day.
However, Huang's resignation has not received unanimous support within the company. 1600 Nvidia employees are now calling for his return, with an internal suggestion box post attracting more than 1,600 comments, many supporting his reinstatement. One anonymous employee reportedly wrote, "If you believe in the mission, bring back THE boss." Several employees have also expressed their support through internal messages and public posts, arguing that Huang's leadership has been central to Nvidia's success.
Meanwhile, the identity of the alleged Chinese spy at the centre of the controversy is Alice Huang , a Chinese business executive associated with Singapore based AI infrastructure company Megaspeed International.
She is suspected by US intelligence agencies of gathering information for Beijing, although the allegations have not been independently established as fact.
