Nvidia shares fall 6% as board opens probe into CEO Huang
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In 50 words
Nvidia shares fell about 6% on Monday, wiping about US$250 billion off its value, after its board ordered an independent probe. US officials reportedly believe CEO Jensen Huang was targeted by Chinese intelligence. China denies this. Huang admitted an affair and will cooperate.
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Why it matters
Nvidia is central to the AI industry, so big moves in its share price can ripple through markets. The BBC notes savings and pensions that hold its stock through index funds can also be affected.
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