White House Tech Advisor Says Spy Case Against Alice Huang Is Collapsing
NVDA is trading near its 52-week low of $148.8 (13% above the low) on elevated volume (5.2× avg).
Summary
David Sacks, co-chair of the President's Council of Advisors on Science and Technology, posted on X that the 'spy narrative is collapsing,' saying the AG reached no conclusions, the CIA is 'not yet convinced,' and the DNI called the claims 'not entirely accurate and over-torqued.' That directly undercuts the espionage allegations that triggered Jensen Huang's resignation as president, CEO and board member effective November 11. Sacks went further, saying the only crime known to have occurred is the leak of a classified memo, and called for an investigation into it. Trump said the former Nvidia CEO is 'going through hell' after his resignation and that 'he called me.' For a $4 trillion company that has lost roughly a quarter of its value in the past month, any signal that the political case against its former CEO is weakening matters — it lowers the odds of formal China-related restrictions tied to the affair. The stock closed 4.34% lower at $166.19 on Thursday and was down another 1.97% overnight.
At the time of this announcement, NVDA was trading at $167.84 on NASDAQ in the Technology sector, with a market capitalization of approximately $4T. The 52-week trading range was $148.80 to $243.37. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Benzinga.