Nvidia CEO Jensen Huang resigns amid spy affair scandal, $4 trillion company shaken

Nvidia CEO Jensen Huang resigned Friday after revelations of an affair with an alleged Chinese spy and two affairs with subordinates, causing the company's stock to plummet and erasing roughly a quarter of one percent of global stock market value. Huang, who built Nvidia into a $4.2 trillion powerhouse, admitted to infidelity with Alice Huang, a CEO suspected by US intelligence of passing information to Beijing. He also slept with at least two subordinates, violating company policy, and resigned under board pressure as the FBI investigated. The scandal has sparked US congressional talks on tougher chip export controls to China, while Australian investors are buying the dip. Analysts say Nvidia's short-term prospects remain stable, but long-term success without Huang is uncertain.