Nvidia loses $573 billion after CEO Huang resigns in scandal
Nvidia lost approximately $573 billion in market value this week after CEO Jensen Huang resigned on November 12 amid a personal scandal involving ties to a Chinese businesswoman, shaking Wall Street and global markets. Huang stepped down as CEO, president, and board member following revelations about his relationship with Alice Huang, a client company executive, and unconfirmed intelligence suspicions of Chinese espionage links. The stock fell 12.8% weekly to $162.85, though major US indices posted gains. The company faces a leadership test on November 17 when it reports earnings, with investors seeking assurance that demand for its AI processors remains strong and that new management can sustain growth without its founder.