Nvidia Stock Plunge
Nvidia Corp. lost 200 billion dollars in market value as shares fell up to 9 percent following revelations concerning Jensen Huang, De Tijd reported.
The semiconductor manufacturer faced an abrupt market downturn after Huang acknowledged an affair with Alice Huang, a woman suspected of espionage for China, according to NRC. The executive met the Megaspeed executive in Taipei in June 2024, NRC reported.
Jensen Huang lobbied for chip exports amid espionage allegations
Jensen Huang maintained a relationship with an individual tied to Chinese intelligence while simultaneously lobbying Washington for relaxed export regulations, NRC reported.
Nvidia secured an agreement with the U.S. government permitting the export of H200 chips to China under a revenue-sharing model that directs 25 percent of proceeds to the U.S. Treasury, NRC reported.
Political Reaction and Market Resilience
U.S. Donald Trump defended the semiconductor executive during a Fox News appearance, stating that the Nvidia chief executive is an honorable man who suffered enormously from the espionage affair, according to HLN.
Despite the 9 percent wipeout in Nvidia shares, the broader tech-heavy Nasdaq index advanced 2 percent, De Tijd reported.
Questions about Jensen Huang, Alice Huang and Nvidia market value
When did the relationship between Jensen Huang and Alice Huang become public?
The executive acknowledged the affair in late October, according to NRC.
What role does Alice Huang hold in the technology sector?
She serves as a top executive at Megaspeed, a Singapore-based firm that purchases computer chips to rent out processing power, NRC reported.
How much market value did Nvidia lose during the downturn?
The chipmaker shed 200 billion dollars in market capitalization as shares dropped up to 9 percent, De Tijd reported.
Earlier coverage: Nvidia Shares Fall as Board Investigates Espionage Claims Against Jensen Huang
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