WDCC

By Steve Goldstein

This screengrab from video footage by CTI obtained via AFPTV on November 9, 2026 shows Alice Huang (R), a Chinese executive linked to the data center company called Megaspeed, attending a dinner hosted by Nvidia's chief executive and co-founder Jensen Huang in 2025.

Whether it was stunned silence or just the fact that the events occurred on the weekend, many of Wall Street's biggest firms on Monday have yet to react to the news that Nvidia is conducting an investigation into whether CEO Jensen Huang gave either company or national-security secrets away while conducting an affair.

One firm, RBC Capital Markets, published a research note on Nvidia without mentioning Huang at all. But for the ones that did, the main issue is simple: will Huang remain as chief executive, or not. Investors are clearly worried as the stock (NVDA) sank 5% in early premarket trade.

"There is clearly risk that Jensen could be removed as CEO depending on the board investigation and this will add risk to the stock as he is so important to the Nvidia story and strategy globally," said Dan Ives, of Yorkville Ives.

Gary Black, the founder of The Future Fund, said there's more than just a risk that Huang will exit. "I doubt Jensen Huang will be able to remain as Nvidia CEO," he said in a message on X. "While I don't see long-term value impairment, many portfolio managers will reduce their Nvidia holdings in the coming weeks as a result of uncertainty over who could succeed Jensen as NVDA CEO."

Citi analysts led by Atif Malik said the key issues are likely potential governance implications, increased regulatory scrutiny and export-control compliance of the flow of H200 chips into China and the long-term impact on leadership stability.

-Steve Goldstein

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