Nvidia heads for US$470 billion two-day wipeout as CEO affair fallout deepens
Its shares fell more than 6% following a 4.3% drop on Monday
Nvidia's shares tumbled over 6% on Tuesday, following a 4.3% decline on Monday, as the chipmaker's market value teeters at a potential US$470 billion loss over two trading days. This sharp decline is attributed to mounting concerns over the fallout from CEO Jensen Huang's alleged affair with Alice Huang, a Chinese businesswoman suspected of being a spy for Beijing.
According to The Information, Huang's relationship with Alice Huang allowed shipments of at least US$7.5 billion worth of Nvidia chips to be delivered to Chinese firms.
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