Nvidia Sheds $430B in Two Days as Jensen Huang Faces Calls to Resign
Nvidia shares fell about 9.5% over two sessions, erasing roughly $430 billion in market value, amid scrutiny of CEO Jensen Huang’s ties to Alice Huang, whom U.S. intelligence reportedly identified as a Chinese spy. Nvidia’s independent directors hired former federal prosecutor Joon Kim and his law firm to investigate. U.S. lawmakers and former officials called for Huang to step aside, demanded answers, and threatened a subpoena, while Congress considers limits on Nvidia chip sales to China. Alice Huang controls Megaspeed, a Singapore-based Nvidia cloud partner under U.S. scrutiny over possible access to restricted chips; no public finding of a violation has been made. China denies the spy allegations, which Reuters could not independently verify. Huang has said he did not know she was a spy.
