Nvidia faces $470 billion two-day wipeout, $1.7 trillion in market cap erased amid honeypot scandal
The company has lost a total of $1.8 trillion, or 32% of its share price across the 24-trading-day sell-off, which predated the fallout of the Huang affair.
Nvidia faces a potential $470 billion market value loss over two days due to concerns over CEO Jensen Huang's alleged affair with a Chinese businesswoman who allegedly acted as a spy for Beijing. The scandal has led to internal investigations and the involvement of former US Attorney Joon Kim and law firm Wachtell, Lipton, Rosen & Katz.
The FBI is also examining whether Huang was targeted by a foreign intelligence operation. Nvidia's shares have dropped more than 6% since Monday, contributing to a $1.8 trillion loss in market cap, and the company is under scrutiny regarding its governance, export-control compliance, and reliance on Huang's leadership.
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