Nvidia faces class action and FBI probe of CEO Jensen Huang; shares plunge $400 billion

Nvidia faces a class action lawsuit and an FBI investigation into CEO Jensen Huang's ties to a Chinese executive, causing shares to plummet over $400 billion in market value. The company has fallen to third place globally behind Microsoft and Apple. Shareholders accuse Huang of failing to disclose his relationship with Alice Huang, a Chinese executive linked to intelligence activities and alleged illegal chip transfers to Beijing. Nvidia has launched an independent investigation, while three House committees have requested closed-door hearings on the matter. The controversy stems from Huang's connections with Megaspeed, a Singapore-based data center company whose revenue surged from $33 million to $3.3 billion. China dismissed the allegations as defamatory, while analysts suggest Nvidia should urgently plan leadership succession.