Nvidia loses market cap crown to Microsoft as CEO faces China spy scandal

Nvidia lost its position as the world's most valuable company to Microsoft on Monday as its shares plunged nearly 8 percent following revelations that CEO Jensen Huang had an affair with an alleged Chinese spy. Huang admitted to the relationship with Alice Huang, a former executive of Singapore-based Megaspeed, whom US authorities concluded was a Chinese intelligence asset. Nvidia has launched an investigation into whether its CEO was targeted by foreign intelligence, while Senator Chris Coons has called for a probe into national security implications. President Donald Trump has defended Huang, citing his denial of knowing the person was a spy, but confirmed the FBI is investigating. Nvidia shares had reached a lifetime high in October before this week's decline.