Nvidia CEO Jensen Huang case LIVE: Nvidia hires law firm Wachtell Lipton to investigate Jensen Huang affair

Nvidia CEO Jensen Huang case LIVE: Nscale, a UK-based cloud computing company backed by chipmaker Nvidia, is reportedly considering postponing its planned $35 billion stock market debut, according to a report by The Telegraph on Tuesday.

The data-center developer's executives are evaluating whether to put its IPO plans on hold until next year, the report said.

Headquartered in London, Nscale filed for an initial public offering in September, seeking to raise approximately $3.5 billion, with Nvidia expected to contribute $2 billion.

(Reuters)

Nvidia CEO Jensen Huang case LIVE: Nvidia shares continued their downward slide on Tuesday, putting the chipmaker at risk of losing more than $470 billion in market capitalization over two trading sessions.

According to a Tuesday report by The Information, citing two people familiar with the woman, Huang's ties to Alice Huang helped facilitate shipments of at least $7.5 billion worth of Nvidia chips to Chinese companies.

Alice Huang and Jensen Huang are not related.

(Reuters)

Nvidia CEO Jensen Huang case LIVE: Nvidia Corp.’s independent board members have brought in law firm Wachtell, Lipton, Rosen & Katz to investigate CEO Jensen Huang’s alleged links to an individual suspected of being a Chinese spy.

The directors have appointed Joon H. Kim, a former acting US attorney for the Southern District of New York at Wachtell Lipton, “to conduct a thorough and independent investigation,” according to a brief statement released Tuesday.

(Bloomberg)

Nvidia CEO Jensen Huang case LIVE: Jensen Huang has been the public face of Nvidia since co-founding the company more than three decades ago. Probes into a possible “foreign intelligence effort” targeting the Nvidia CEO have sparked concerns about the company's future and who could eventually succeed him.

Huang has previously revealed that more than 60 executives report directly to him, reflecting a corporate structure that places him at the center of major decisions.

Finding a replacement could prove difficult, particularly given how closely his public identity and leadership have become associated with Nvidia.

Should Huang resign or be removed by the board, potential successors could include Nvidia co-founder Chris Malachowsky, who currently serves as a senior technology executive, and Chief Financial Officer Colette Kress.

(PTI)

Microsoft overtook Nvidia to become the world’s second-most valuable company on Tuesday, as shares of the chipmaker plunged more than 6% amid concerns over the outlook for artificial intelligence (AI) and an investigation into whether CEO Jensen Huang was targeted by a foreign intelligence operation. Microsoft shares fell 0.4% to $543.25, while Nvidia dropped more than 6% to around $167.11.

Nvidia CEO Jensen Huang case LIVE: Allegations of Chinese spying involving Nvidia dominated discussions at a major global technology conference on Tuesday, with some industry executives seeing an opportunity for rival companies amid the turmoil surrounding the US artificial intelligence (AI) chipmaker.

The Web Summit in Lisbon opened against the backdrop of a controversy involving Nvidia CEO Jensen Huang, whose company dominates the market for chips used in leading AI systems.

Huang has acknowledged an alleged affair with a woman whom US intelligence officials reportedly suspect of spying for China. Beijing has denied the allegations.

Nvidia shares fell more than 5% on Wall Street during trading on Tuesday.

"There will be turbulence in terms of the stock price, in terms of the management arrangement," Larry Li, founder of California-based investment firm Amino Capital, said, referring to the short-term impact of the controversy.

Nvidia CEO Jensen Huang case LIVE: Nvidia and its CEO Jensen Huang have been sued by a shareholder who accused them of misleading investors over Huang's alleged relationship with Alice Huang, who media reports have claimed was working for Chinese intelligence, and the potential national security risks arising from it.

The lawsuit alleges that Nvidia and Huang failed to disclose the purported affair and made false statements about the company's business ties with Alice Huang's firm. It claims the alleged omissions exposed Nvidia to a "material risk" to its reputation and business prospects.

The complaint was filed by retail investor Mark Kistenmacher, who is seeking unspecified damages and a jury trial. It seeks to represent shareholders who purchased Nvidia stock between October 9, when The New York Times first reported the alleged affair, and November 8, when the company said it was investigating reports that Huang had been the "target of a foreign intelligence effort".

The allegations have not been established in court.

Nvidia CEO Jensen Huang case LIVE: A shareholder has sued Nvidia and its CEO, Jensen Huang, accusing them of deceiving investors in their responses to media reports about Huang's affair with a purported Chinese spy that threatens national security.

The complaint comes after President Donald Trump said the FBI is investigating the affair, which Huang has acknowledged and apologised for.

(via AP)

Nvidia CEO Jensen Huang case LIVE: Nvidia remains in focus among investors after US President Donald Trump said on Monday that the FBI was investigating CEO Jensen Huang's alleged affair with a Chinese businesswoman suspected of spying for Beijing. The company had said over the weekend that its board was probing reports that Huang may have been the target of a foreign intelligence operation.

Adding to the scrutiny, a media report on Tuesday alleged that Huang's relationship with the woman helped facilitate the shipment of at least $7.5 billion worth of Nvidia chips to Chinese firms.

Nvidia shares fell 1.4% in premarket trading. (Reuters)

Nvidia CEO Jensen Huang case LIVE: The complaint alleges that Nvidia and CEO Jensen Huang misled investors about his relationship with Alice Huang, who media reports have alleged was working for Chinese intelligence, and the potential national security implications.

The lawsuit accuses the company and its CEO of failing to disclose the alleged affair and making false statements about Nvidia's business relationship with Alice Huang's company. It claims the alleged omissions posed a "material risk" to Nvidia's reputation and business prospects.

Filed by retail investor Mark Kistenmacher, the complaint seeks unspecified damages and a jury trial. It aims to represent shareholders who purchased Nvidia stock between October 9, when The New York Times first reported the alleged affair, and November 8, when the company said it was investigating reports that Huang had been the "target of a foreign intelligence effort". (AP)

NNvidia CEO Jensen Huang case LIVE: Nvidia CEO Jensen Huang could face mounting political and corporate scrutiny over his reported relationship with a woman suspected of having links to Chinese intelligence, with governance experts warning that the controversy could threaten his leadership of the artificial intelligence giant, according to a report by the New York Post.

The report suggested that although Huang remains a central figure in Nvidia's global AI operations and a significant contributor to the US economy, his position could become increasingly vulnerable when Democrats assume control of Congress next year. The concerns stem from his admission of an affair with Alice Huang, whom US intelligence agencies reportedly suspect of being a Chinese intelligence asset.

Nvidia CEO Jensen Huang Case LIVE: Nvidia chief executive Jensen Huang had a rather disappointing start to the trading week, with his personal fortune taking a $7.4 billion (Around ₹69,520.82 crore) hit in the first half-hour of trading on Monday, November 9, as the firm's shares slid amid a company investigation into his admission of an affair.

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Nvidia CEO Jensen Huang Case LIVE: China's foreign ministry on Tuesday said Beijing and Washington were in communication over arrangements for an interaction between their leaders this year, when asked whether President Xi Jinping would discuss the espionage allegations involving Nvidia CEO Jensen Huang and businesswoman Alice Huang with US President Donald Trump.

Foreign ministry spokesperson Guo Jiakun did not directly address the question at a regular briefing, but said China had clarified its position on the allegations multiple times.

Beijing has dismissed what it called the "so-called Chinese spy narrative" as baseless speculation and a smear campaign against China. (Reuters)

Nvidia CEO Jensen Huang Case LIVE: A shareholder has filed a lawsuit against Nvidia and its CEO, Jensen Huang, accusing them of misleading investors in their responses to media reports about Huang's alleged affair with a Chinese businesswoman suspected of espionage, which has raised national security concerns, according to the AP.

Nvidia CEO Jensen Huang Case LIVE: Analysts reportedly say there is a chance that Huang may be removed as CEO after the investigation. "There is clearly risk as discussed that Jensen could be removed as CEO depending on the board investigation and this will add risk to the stock as he is so important to the Nvidia story and strategy globally," Dan Ives, a partner and analyst at investment bank Yorkville Ives, told The Guardian.

However, removing Huang is easier said than done. Ives said the Nvidia CEO was not easily replaceable and no other person in the management shared his vision that shaped the company for more than three decades. He also highlighted that his family also have leadership roles at the firm, which could complicate a final decision.

Nvidia CEO Jensen Huang Case LIVE: Nvidia CEO Jensen Huang's affair with a Chinese businesswoman alleged to be a spy for Beijing facilitated the shipment of at least $7.5 billion worth of the company's chips to Chinese firms, The Information reported on Tuesday, citing two people who know her.

Alice Huang, along with her husband and sister, built a network of companies across China and Singapore to acquire Nvidia chips, according to the report. (Reuters)