Nvidia Drops 6% on $7.5 Billion China Shipment Scrutiny as FBI Reviews CEO Spy-Link Claims
Updated
Updated · Yahoo Finance · Nov 10
Nvidia Drops 6% on $7.5 Billion China Shipment Scrutiny as FBI Reviews CEO Spy-Link Claims
3 articles · Updated · Yahoo Finance · Nov 10
Summary
Nvidia shares fell as much as 6% Tuesday after a 4% drop Monday, extending losses as investors weighed allegations tied to CEO Jensen Huang and China-linked chip sales.
At least $7.5 billion of Nvidia chips were reportedly shipped through Chinese companies, with scrutiny focused on Alice Huang, whom the US government reportedly identified as a Chinese intelligence asset.
Washington pressure intensified after House Democratic Leader Hakeem Jeffries said Congress needs more answers, while President Trump said the FBI was looking into Huang's relationship but voiced support for the CEO.
A hotter-than-expected October inflation reading also hit chip stocks broadly by reinforcing expectations of a rate hike next month, leaving Nvidia under both company-specific and marketwide pressure.