Key facts
- Nvidia's board is investigating whether CEO Jensen Huang was the target of a foreign intelligence effort.
- Huang said in a memo to staffers that he had been unfaithful to Lori Huang, his wife of over 40 years.
- Business Insider calculated the intraday slide briefly cut about $13 billion from Huang's Nvidia holdings.
- Huang's holdings were worth around $138 billion on Monday morning, per Business Insider's calculation.
- Hashtags about Huang trended on Weibo as users debated the personal and financial costs of the fallout.
- The New York Times reported US intelligence officials believe Alice Huang, a former Megaspeed executive, was passing information to Beijing.
Nvidia CEO Jensen Huang told staffers in a memo on Sunday, November 8, that he had been unfaithful to his wife, Lori Huang, his wife of over 40 years and the mother of his two children. The disclosure came as the chipmaker's board launched an independent investigation into whether Huang was the "target of a foreign intelligence effort."
Nvidia stock swung sharply on Monday, November 9, falling as much as 9% before ending the session about 4% lower at $178.67. Business Insider calculated that the slide briefly knocked about $13 billion off the value of Huang's Nvidia holdings, leaving them worth around $138 billion on Monday morning.
Huang did not name the person involved in his memo. Attention has centered on Alice Huang, a former executive at Megaspeed, an Nvidia customer. The New York Times reported that US intelligence officials believe she was passing information to Beijing.
On Weibo, China's version of X, several hashtags about Huang trended as users debated the personal and financial costs of the fallout. Under the hashtag "How much could Jensen Huang's wife get in a divorce?", users discussed what a split could mean for his fortune, with one from Shandong citing California's community property laws while noting the complexity of his Nvidia shares and other assets.
Other users focused on investors and Silicon Valley figures caught in the stock move, using hashtags including "Which Silicon Valley tycoons did Jensen Huang's 'love brain' hurt?" and "Jensen Huang sets a record for the biggest losses caused by an executive's personal scandal." One user from Sichuan wrote that retail investors were ultimately paying for the episode, while another from Jiangxi said a private controversy can leave the whole company and countless investors to bear the cost.