Nvidia shares slump amid investigation into CEO Jensen Huang

Nvidia stock tumbled in early trading after the company launched an internal investigation into whether CEO Jensen Huang had been targeted by a Chinese intelligence operation. News of the probe into the California-based semiconductor giant sent its stock tumbling over 4 percent as United States financial markets opened for the week, while tech stocks and wider indexes rose. The probe comes amid reports that Huang developed a close personal relationship with a Chinese business executive of a Nvidia partner company who allegedly passed information to Beijing.

In a letter to employees, Huang admitted to not being faithful to his wife, but did not elaborate on the details of the relationship. “NVIDIA’s Board of Directors has initiated an independent investigation. I support the investigation and will cooperate fully,” Huang said in the letter.

On Sunday, the firm announced the investigation. “The Board prioritizes U.S. national and economic security, which is paramount to the interests of NVIDIA and its shareholders,” the company said in a statement.