Nvidia faces $470 billion loss after CEO Jensen Huang scandal

Nvidia is losing over $470 billion in market value following a scandal involving CEO Jensen Huang, who admitted to an affair with a woman suspected of working for Chinese intelligence. The company's board is investigating the situation. Huang is considered indispensable to Nvidia's success, serving as its primary spokesperson and key liaison with the White House and foreign capitals. The controversy highlights the "key-person risk" facing AI companies, where the fate of powerful firms is tied to a single leader. Experts note Nvidia lacks a clear succession plan, with Huang reportedly having 60 direct subordinates. Yale professor Jeffrey Sonnenfeld estimates only a 50% chance Huang keeps his job, suggesting the board might appoint a symbolic figure or bring in an experienced tech CEO like former Google chief Eric Schmidt.