Shares in Nvidia Corporation (Nasdaq: NVDA) are sinking today, less than 12 hours after CEO Jensen Huang publicly confirmed that he’d had an extramarital affair, and after the chipmaker confirmed that it was investigating Huang’s relationship amid reports that the woman he’d had an affair with was allegedly spying on behalf of Beijing.

The story has rocked the AI industry at a time when related tech stocks are already facing their most significant headwinds since the artificial intelligence boom first took off. Here’s everything you need to know to get caught up.

Last night, Nvidia published a statement from its board of directors confirming that the company has launched an independent investigation into its CEO, Jensen Huang.

The statement came following earlier reports by the New York Times and the Financial Times alleging that Huang had been having an extramarital affair with Alice Huang, a senior leader at a Singapore-based cloud company called Megaspeed.

U.S. intelligence services believe the woman was spying on behalf of China, the reports said.

Nvidia makes the world’s most advanced chips and graphics cards, which are now the backbone of the AI revolution.

For years, the company’s most state-of-the-art technology has faced export restrictions to China over national security fears. The United States and China are locked in an AI arms race, and U.S. lawmakers and national security experts worry that the sale of Nvidia’s hardware to China would give the country an edge economically and militarily.

While the extramarital affair stands to damage Huang’s personal reputation, AI industry insiders, Wall Street, and security experts are most concerned about the fact that Huang’s companion may have also been working as an intelligence operative.

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