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On Sunday, Nvidia’s Board of Directors announced an independent investigation into founder and CEO Jensen Huang. The inquiry follows multiple intelligence and media reports that Huang was the target of a foreign intelligence effort involving a romantic relationship with a suspected Chinese spy — along with the admission of an affair.

The investigation occurs against the backdrop of a severe tech stock sell-off, with nearly $2 trillion erased because of fears of an AI bubble. Nvidia, which has served as the cornerstone of this gold rush, dropped 4% in overnight trading value, as it’s now under a microscope of geopolitical and governance concerns.

Here is the timeline of events leading up to the board’s investigation.

The full timeline

BREAKING: New photos of Jensen Huang and his alleged Chinese spy lover have been revealed https://t.co/NSuW8OxDUT November 9, 2026

Before we get into the market fallout, let’s run through the timeline of what happened.

In 2025, US intelligence…