Jensen Huang Said to Have Had Relationship With Nvidia Executive Who Reports to Him

Investigation and Huang’s Response

Nvidia is investigating an alleged affair between CEO Jensen Huang and a person described in the report as a Chinese spy. The controversy has added to questions about the company’s future among investors.

In a statement on Sunday, Huang said he had been unfaithful to his wife and had fallen short of his responsibilities to Nvidia. He said he would cooperate with the inquiry and remained committed to the company and U.S. national security.

Analysts Reassess Nvidia Shares

Baird cut its rating on Nvidia shares to neutral. The firm cited limited visibility into data center spending in 2027, possible softness in demand and uncertainty about Huang’s tenure.

Morgan Stanley removed Nvidia from its Top Pick list but kept its overweight rating. The stock had declined more than 25% since it received that designation last month.

Bank of America Global Research also removed Nvidia from its U.S. 1 List. At least three other brokerages, including Wells Fargo and Citigroup, lowered their price targets earlier in the week.

Broader Market Pressure

Nvidia shares have been affected by a wider selloff in technology stocks. The report linked that pressure to midterm election results showing Democrats winning majorities in both chambers of Congress.

The stock’s difficulties deepened amid the controversy surrounding Huang. He co-founded Nvidia, which has become a leader in the artificial intelligence race.