• Nvidia shares fell 5.47 per cent on November 10.
• Former US prosecutor Joon H. Kim appointed to lead the inquiry.
• Board says there is no current evidence of compromised secrets.
• Nvidia’s third-quarter fiscal 2027 results are due November 17.

By Anjali Sharma
WASHINGTON – Nvidia’s independent directors on Tuesday have appointed former federal prosecutor Joon H Kim to lead an investigation into reports that CEO Jensen Huang was targeted by a foreign intelligence operation, as the US chipmaker’s shares fell nearly 5.5 per cent.

The chipmaker said it has no reason to believe company secrets or US national security were compromised. Its next quarterly results are due on November 17.

Kim, a former acting US Attorney for the Southern District of New York, will conduct the inquiry alongside law firm Wachtell, Lipton, Rosen & Katz, Nvidia’s independent directors confirmed in a statement dated November 10.

The appointment follows the company’s November 8 announcement that an independent board committee would investigate reports of an intelligence effort targeting Huang, Nvidia’s founder and chief executive.

Nvidia’s board said it had no reason to believe that US national security or company secrets had been compromised, but would examine all available information.

The company said protecting US national and economic security was paramount to its interests and those of shareholders.

The board also expressed confidence in Huang and his leadership team, confirmed his cooperation with the inquiry and said further updates would be provided as appropriate.

Huang acknowledged being unfaithful to his wife and apologized to his family,colleagues and shareholders in an email to employees published by Nvidia on November 8.

“I take full responsibility for what I did and the hurt I caused, and I accept the criticism that comes with it,” he wrote.

Huang confirmed his support for the board’s investigation and pledged full cooperation.

“I love our country and our company. I am committed to protecting NVIDIA and supporting America’s national security,” he said.

Huang also requested privacy for his family, stated that they bore no responsibility for his decisions.

According to historical market data, Nvidia shares closed at $168.89 on November 10, down $9.78, or 5.47 per cent, from the previous session’s closing price of $178.67.

The stock has fallen sharply from its October 30 close of $204.64, registering a decline of approximately 17.5 per cent over the following seven trading sessions.

The company was valued at approx $4.08 trillion at Tuesday’s close.

Microsoft temporarily overtook Nvidia in market capitalization during Tuesday’s trading, according to market reports.

The closing-market data cited by The Wall Street Journal placed Nvidia ahead of Microsoft at the end of the session.

Nvidia is scheduled to announce its third-quarter fiscal 2027 financial results on November 17.

The company has confirmed that the results will cover the quarter ended October 25, 2026, with an earnings conference call scheduled for 5 pm Eastern Time.

The announcement will provide updated financial figures for Nvidia’s business, including its performance in the artificial intelligence computing market, as investors assess the company’s outlook amid the recent share-price decline.