Sources: US officials believe Jensen Huang had a romantic relationship with Alice Huang, who they allege was recruited to spy for China's top spy agency, MSS (Demetri Sevastopulo/Financial Times)

According to the Financial Times, US officials believe Nvidia CEO Jensen Huang had a romantic relationship with Alice Huang, whom they allege was recruited by China's top spy agency, the MSS, to gather information on the US company.

Following Democratic victories in the midterm elections on November 5, Huang’s net worth fell by US$15.1 billion to US$150.9 billion, according to The Business Times - Companies & Markets and Straits Times Business. This loss moved him from ninth to 13th on the Bloomberg Billionaires Index. Nvidia shares tumbled 9.3%, marking the company's largest drop since January 2025.

The decline in stock prices for Nvidia, SpaceX, and Oracle was driven by expectations that a Democrat-controlled House and Senate may work to constrain the construction of data centres, which are critical components of AI infrastructure. Both The Business Times - Companies & Markets and Straits Times Business noted that Musk and Ellison also experienced significant net worth losses following the election results.

Brief written by urgent.news from Techmeme, The Business Times - Companies & Markets, Straits Times Business — 3 reports on this story. Machine-written — may contain errors; check the original before relying on it.