Nvidia shares fall after ‘honeytrap’ investigation launched, as China denies spying claims – business live

Boss of world’s most valuable company admits affair as it investigates reports he was the target of ‘a foreign intelligence effort’Nvidia opens investigation after report CEO Jensen Huang was target of foreign intelligenceHuang is receiving support from some fellow tech executives, including Elon Musk.Musk commented “I agree” on a post by ​Sequoia partner Shaun Maguire that said Huang “did something incredibly dumb” that was “bad for America” but that “Jensen is irreplaceable for America’s AI leadership”.“While Nvidia has sought to reassure us all, ​there are several layers here, beginning with the unfortunate timing.“For example: The company is systemically important for tech, markets and the economy; Investors tend to struggle to price in key-person and governance issues; and there are fluid national security and geopolitical dynamics.” Continue reading...