- Nvidia CEO is under investigation for an affair with an alleged Chinese spy woman.
- Amid this, the company’s stock fell by 5%, leading to a loss of over $ 200 billion in market value.
- This has also raised national security concerns, despite the company dismissing it.
Jensen Huang recently made headlines when he admitted to having an affair with a Chinese woman, suspected of being a spy by US intelligence. The case is under investigation, but the company’s stock has already taken a hit.
Nvidia’s shares fell by over 5% an hour before the market even opened, projecting a loss of over $200 billion. The case has taken an instant toll on the CEO’s reputation, which has led to the company’s stock value falling.
Why it matters: Shareholders are worried that this could lead to national data being leaked, despite Nvidia’s board of directors stating that there is no reason to believe that this is a case of national or company security.
Last month, reports surfaced linking Huang to a Singaporean-based businesswoman, Alice Huang, who allegedly is part of a Chinese intelligence operation. Nvidia CEO has even apologized for this to his wife and children.
But the shareholders haven’t taken this too lightly as the stock is falling. Last year, Nvidia broke through the $5 trillion mark, so this blow could hit the company hard, especially as it could already lose over $200 billion right now.
Interestingly, he has great ties with the President and Trump even defended him stating that done an amazing job for our country. Now, the case is under investigation, so let’s just wait and see where it leads.
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News Reporter
Abdullah is an avid gamer who primarily plays single-player titles. If you can’t find him anywhere, he’ll probably be at his desk playing The Witcher 3 for the millionth time. When he isn’t playing games, he’s either reading or writing about them.
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