NVDA Stock Slides Premarket: Beijing Reportedly Rejects Jensen Huang Spy Allegations As ‘Smears Against China' Yuvraj Malik Mon, November 9, 2026 at 4:14 AM EST 3 min read NVDA -5.35% INTC -1.39% AMD +1.50% Explore stocks on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
"The so-called Chinese spy allegation is unsubstantiated," China's Foreign Ministry spokesman Guo Jiakun said.
Nvidia CEO Jensen Huang admitted to an illicit affair with a suspected Chinese spy, and the company has launched an investigation.
Some analysts believe that the incident could have far-reaching consequences, including a near-term overhang on NVDA stock and Huang ultimately losing his CEO title.
Nvidia Corp. (NVDA) shares dipped 5% in early premarket trading after CEO Jensen Huang admitted to having an illicit relationship with a person suspected to be a U.S. spy and said the company's board had launched an investigation.
The news triggered modest gains in other chip stocks, such as Intel (INTC) and Advanced Micro Devices (AMD). China quickly rebuked allegations of Beijing's involvement in the controversy.
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"The so-called Chinese spy allegation is unsubstantiated," China's Foreign Ministry spokesman Guo Jiakun said at a regular press briefing in Beijing, Bloomberg reported. "It is nothing but smears against China," he added.
The episode might complicate the Xi Jinping-Donald Trump summit at an Asia-Pacific Economic Cooperation in Shenzhen next week, according to the report.
Some analysts believe that the incident could have far-reaching consequences, including a near-term overhang on NVDA stock and Huang ultimately losing his CEO title.
President Donald Trump, billionaire executive Elon Musk, and Bill Ackman have come out in support of Huang. Nvidia will likely face a barrage of questions on the issue at its upcoming earnings report on Nov. 17.
On Monday, Nvidia, SK Telecom and Korean chip startup Rebellions announced a partnership to jointly develop sovereign AI infrastructure, based on Nvidia's NVLink Fusion technology.
Madison Huang, a senior director at Nvidia and the daughter of Jensen Huang, had initially planned to visit Rebellions in South Korea and hold a question-and-answer session with Kakao Mobility but Rebellions said the event was canceled due to "unavoidable internal circumstances at Nvidia," according to Reuters.
Nvidia AI Day Seoul, a two-day event expected to draw about 2,000 participants, will proceed as planned, Reuters reported, citing South Korean media.
On Stocktwits, the retail sentiment for NVDA climbed multiple points higher in the 'extremely bullish' zone. "$NVDA a ceo with drama is golden dip buy; sell the news buy the dipping," said a trader.
Another wrote: "$NVDA everything will be fine. Level heads prevail. Best CEO, best chips in the world. Just another buy the dip moment."
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Yuvraj Malik has no position in any of the stocks mentioned in this article. StockTwits' news team content is for informational purposes only and is not intended as investment advice. For more, see our editorial policy. This article was originally published on StockTwits.
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