Nvidia's CEO Scandal Shakes Washington and Wall Street

Nvidia, the dominant supplier of AI chips powering most major US systems, faces a leadership scandal as its board investigates CEO Jensen Huang over a foreign intelligence incident, causing shares to fall 4% and raising concerns in Washington and Wall Street. The investigation follows reports that Huang was targeted by a foreign intelligence effort, with a former Nvidia customer executive allegedly passing information to Beijing. Nvidia holds an estimated 70-85% of the AI-chip market, with its data-centre business generating $89 billion in the last quarter, making it a critical national strategic asset. Nvidia's CUDA software underpins most global AI code, and its chips are essential for training advanced models at OpenAI, Microsoft, and Google. The company represents about 7% of the S&P 500, and its next quarterly results on November 17 will be a key test of investor confidence.