Nvidia, Jensen Huang hit with shareholder suit over spy disclosures

Nvidia and Chief Executive Jensen Huang were sued in federal court in San Jose, California, in a proposed class action accusing them of misleading shareholders about Huang’s relationship with Alice Huang, a former executive at Singapore-based Megaspeed whom US authorities identified as a Chinese intelligence asset. The complaint, filed Monday after the market close, argues the company failed to disclose reputational and national security risks tied to the matter. Nvidia opened an independent investigation on Sunday. Shares fell 4.3% on Monday, erasing about $190 billion in market value. Shareholders led by Mark Kistenmacher are seeking unspecified damages.