Nvidia heads for US$470 billion two-day wipeout as CEO affair fallout deepens

On November 10, Nvidia shares continued to plummet, threatening a loss of more than $470 billion in market value over two days, as concerns escalated over the fallout from CEO Jensen Huang's affair with a Chinese businesswoman suspected of espionage for Beijing. Huang's liaison with Alice Huang facilitated the shipment of at least $7.5 billion worth of Nvidia chips to Chinese firms, according to The Information citing two sources familiar with the matter.

Alice Huang, not related to Jensen Huang, and her husband and sister formed a network of companies in China and Singapore to acquire Nvidia chips. Alice Huang, known as Huang Le, was instrumental in securing preferred cloud partner status for Shanghai Century Litong, a China-based company that received priority access to Nvidia's chips. Reuters could not independently verify the reports.