Nvidia affair costs $190B

Nvidia shares fell more than 8% in early trading on November 9, before ending the session down 4.3% at $178.67, wiping about $190 billion off the company’s market value. The decline followed reports of a romantic relationship between its CEO, Jensen Huang, and Alice Huang, a former executive at “Megas,” amid U.S. suspicions about her ties to Chinese intelligence. Huang acknowledged in a message to employees that he had been unfaithful to his wife and apologized to his family. Republican lawmakers also requested a briefing from Huang on safeguards against espionage, while a proposed class-action lawsuit accused him and the company of misleading shareholders—allegations that have not been proven in court. The report notes that Huang’s multibillion-dollar losses are paper losses resulting from the decline in the value of his stake, not cash he actually lost.

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