Nvidia down 30% in $1.8 trillion rout as Trump reveals FBI probe into boss's affair with suspected Chinese spy
Chipmaker Nvidia has shed 10%, or $450bn of its value, in two days of trading after its boss admitted to cheating on his wife with an alleged Chinese spy.
Nvidia CEO Jensen Huang admitted to an affair with a woman named Alice Huang, who authorities suspect of being a Chinese spy. President Trump has spoken about the matter, expressing that he asked Huang if he knew Alice was a spy - Huang reportedly said he didn't know. Trump reportedly said he believes Huang to be an "honourable guy" and that Huang probably has an excuse for the affair.
Trump also expressed sympathy for Huang, while bragging about Nvidia's advanced Blackwell architecture chip. Recent legal troubles and law firms seeking to capitalize on Nvidia's value decline have added to the scrutiny surrounding the company.
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- Trump calls his pal Jensen Huang an ‘honourable guy’ and says he ‘probably has an excuse’ for Nvidia CEO’s affair with alleged spy pcgamer.com
- Jensen Huang's affair shines a spotlight on Nvidia's weak board and opaque succession planning at what has become the world's most important company (Semafor) semafor.com
- Nvidia hires law firm Wachtell Lipton to investigate Jensen Huang's affair with an alleged Chinese spy, to be led by former acting US attorney Joon H. Kim (New York Times) nytimes.com
- Sources: Nvidia board member and ex-Cooley CEO Stephen C Neal will probably lead the probe; Nvidia's corporate docs make no reference to "succession planning" (Financial Times) ft.com
- Nvidia hires law firm Wachtell Lipton to lead Jensen Huang affair probe cnbc.com
- Nvidia and Huang face lawsuit alleging investors were misled about spy affair pbs.org
- Jensen Huang’s China problem reaches the FBI techcentral.co.za