Nvidia faces scrutiny over China chip ties and CEO affair

Nvidia lost about $430 billion in market value over two sessions as reports deepened questions about CEO Jensen Huang's relationship with a Chinese businesswoman alleged to be a spy, escalating scrutiny over the company's China chip ties. Senate Democratic Leader Chuck Schumer demanded answers and tighter chip export curbs, while Republican Senator Kevin Cramer called for Huang to step down. Nvidia's independent directors hired outside counsel to investigate, and the FBI is examining whether Huang was targeted by foreign intelligence. Reports allege Alice Huang helped move about 240,000 Nvidia chips into China, with some serving Alibaba and Tencent. The New York Times reported Secretary of State Marco Rubio briefed President Trump on the affair in May. China's foreign ministry called the spy accusations groundless.