Updated

Nvidia shares edged higher as investors weighed the potential fallout from reports that CEO Jensen Huang had an affair with an alleged Chinese spy. Huang admitted on Sunday to having an affair with a woman who has been connected to Chinese intelligence by reports in The New York Times and Financial Times. Rep. John Moolenaar, R-Mich., chairman of the Select Committee on China, told CNBC he expects answers about Huang's relationship. CNBC also noted that chip stocks rallied amid the Nvidia scandal, with the coverage invoking the saying that markets bottom on bad news. CNBC reported that Nvidia has hired the law firm Wachtell Lipton to lead an investigation into the affair. The retention of outside counsel is the company's first disclosed formal response to the reports. The coverage did not say how long the probe will take or whether it will be made public.