Nvidia Loses $430 Billion in Market Value Amid Probe into CEO
Nvidia's market value plummeted following reports of an alleged relationship involving its CEO, sparking security concerns and calls for stricter export controls.
Nvidia has suffered a massive loss of $430 billion in market value over two consecutive trading sessions, causing the company's stock to drop by more than 5%.
The decline follows reports regarding a relationship between CEO Jensen Huang and a Chinese businesswoman, with allegations that this connection facilitated the shipment of chips to China worth $7.5 billion.
Huang has admitted to marital infidelity, though he provided no further details regarding the situation.
These developments have prompted U.S. lawmakers to demand stricter export restrictions on sensitive technology.
Nvidia’s board of directors has launched an internal investigation into the claims, while the FBI is examining the possibility that Huang may have been the target of an intelligence operation.