Nvidia faces $470B loss as CEO's affair with alleged spy sparks investor panic

Nvidia's stock fell 5.9% to $168.12 on Tuesday, putting the company on track for a $470 billion two-day market value loss amid investor panic over CEO Jensen Huang's affair with an alleged Chinese spy. The chipmaker's market cap stood at just over $4 trillion, making it the world's second-most valuable company. Huang, 63, admitted to the relationship with Alice Huang, a suspected Chinese spy, prompting investigations by Nvidia's board and the FBI. Reports indicate the affair helped facilitate shipments of at least $7.5 billion worth of Nvidia chips to Chinese firms, including Alibaba and Tencent, despite export restrictions. Huang faces calls to appear before Congress on Nov. 18, while President Trump has defended him as an "honorable guy." The CEO apologized to his family and colleagues in an email, vowing to earn back their trust, as concerns grow over his lack of a clear successor.