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After Huang Renxun admitted his extramarital affair, Huida’s stock price and futures came under pressure, but the market believed that the impact was mostly due to the news; The real key is still the US chip export controls and the financial report of November 17.
Huida (Nvidia) CEOJen-Hsun Huang After admitting to having an extramarital affair with a woman suspected of spying for China, the board of directors announced an independent investigation. This news shocked the share price.
The perpetual futures contract tracking HUDA’s share price on the blockchain trading platform Hyperliquid fell nearly 2.9% on Monday (9th), reaching a low of $180.15. The market expects share prices of Asian suppliers like TSMC, KYEC and Wistron to also remain volatile.
US stock futures were volatile after the open on Monday, according to the latest report from Bloomberg News. Nasdaq 100 index futures fell 1% once, and then recovered their losses to rise 0.1%. The market was uneasy about the investigation into Huang Zhen-hsun, but US stock futures did not continue to fall.
Jen-Hsun Huang admitted in an email to his staff on Sunday (8th) that he was unfaithful to his wife and hurt his wife and children, for which he was deeply sorry. He also said that he would cooperate in the board’s investigation. The investigation will clarify whether Huang was the target of foreign intelligence activities.
Huida stressed that there is currently no reason to believe that national security has been compromised or company secrets have been leaked, and Huang Renxun will continue to serve as CEO.
Analysts said the incident’s impact on the stock price may be limited. What is really worth paying attention to is whether the US government further tightens export controls on AI chips and Huida’s financial report scheduled to be released on November 17.
Anna Wu, an analyst at Floodlines Research, said: “The market will treat this as a news risk, which may cause the stock price to drop slightly, just like when the news first came out. But I don’t think it will be a major factor affecting the market trend.” He believes that for Huida, the more influential factor at present is the selling pressure on chip stocks after the US midterm elections and the earnings report to be released on November 17.
As far as Asia is concernedsupply chain Anna Wu pointed out, “This matter is an indirect news exposure. They themselves have big problems, such as the midterm elections and after Intel’s warning. These factors may bring more pressure.”
He gave an example. On October 30, TSMC and SK Hynix both fell more than Huida after the market began to react following Intel’s financial forecast.
US chip stocks rose on Friday, with the Nasdaq 100 index up 1.4% and the S&P 500 index up 0.3%, but they were still unable to reverse the week’s decline. The Philadelphia Semiconductor Index fell 12% last week, its worst weekly performance since the tariff storm in April 2025.
Asian stock markets showed signs of a rise ahead of Monday’s open, with South Korean and Japanese stock index futures up about 1.5% each, while Taiwan and Hong Kong shares also rose. As US chip stocks surged last Friday, the premium on TSMC’s ADRs over Taiwanese shares rose to 15%.
Adam Crisafulli, an analyst at Vital Knowledge, pointed out: “If Huang Renxun’s position at Huida is affected, it will obviously be a blow to the company. But the bigger risk is that if the government imposes tighter controls on Huida’s chip sales to foreign buyers, it could hit the company’s revenue.”
He said that although Huida sells very few products directly to China, there is a perception in the market that there is still a large number of Huida products, including the most advanced chips, falling into the hands of Chinese users through secret channels.
