Nvidia CEO Jensen Huang's Downfall Shakes US-China Tech Rivalry and Hits ASML

The downfall of Nvidia CEO Jensen Huang, following a spy scandal involving his relationship with a Chinese woman, has cost him his job and reputation while wiping $1.5 trillion off the company's market value, impacting the global economy and the US-China technology rivalry. Huang admitted to an affair with Alice Huang, a former executive at Singapore-based Megaspeed, a major chip buyer accused of smuggling Nvidia products to China. US intelligence alleges she was a spy, though no evidence has been made public, and China denies involvement. His position became untenable after a second affair with an Nvidia employee was revealed. The scandal exposes a policy battle in Washington over AI chip exports to China, with implications for Dutch firm ASML. Congress is preparing laws to restrict technology sales, potentially limiting ASML's machine exports, while China may retaliate with restrictions on rare earth materials crucial for production.