Huang's Betrayal Could Cost Nvidia $250 Billion: What Is Known at This Hour

The most expensive affair of modern times could cost $250 billion. That's how much Nvidia risks losing because of its CEO's romance with an alleged Chinese spy. The tech giant's shares fell nearly 5% in pre-market trading, the U.S. Congress is demanding answers, and the scandal has reached Donald Trump.

This is reported by the Telegram channel Baza.

According to reports, 63-year-old Nvidia CEO Jensen Huang was in a close relationship with Chinese businesswoman Alice Huang. U.S. intelligence agencies suspect the woman of working for Chinese intelligence and collecting classified information. She previously worked at Singapore-based company Megaspeed, which was suspected of circumventing American restrictions on AI chip exports to China.

Following the publications, Huang admitted to cheating on his wife, whom he met when he was just 17. They have been married for over 40 years.

The CEO apologized to his family and employees, and Nvidia's board of directors launched an independent investigation into a possible leak of proprietary developments.

The scandal drew the attention of the U.S. Congress. Three House committees demanded a closed-door briefing from Huang on November 18 to determine whether Chinese intelligence could have gained access to American technologies. Trump called the Nvidia chief a decent person, although, according to media reports, the U.S. president had been warned about Huang's suspicious connections as early as last year. The businessman's daughter, who also works at Nvidia, canceled a trip to South Korea.

Amid the investigation, Huang's future at the helm of the approximately $4.5 trillion company has been called into question. The nearly 5% drop in shares during pre-market trading on November 9 meant a potential loss of around $250 billion in market capitalization.

Nvidia states that there are currently no grounds to believe that trade secrets or U.S. national security have been compromised. Huang remains CEO, and China denies the espionage allegations.