Nvidia heads for $400 bil. 2-day wipeout as CEO affair fallout deepens

Nvidia shares extended losses on Tuesday, putting the chip giant on track to shed more than $470 billion in market value over two sessions as concerns mounted over the fallout from CEO Jensen Huang's affair with a Chinese businesswoman alleged to be a spy for Beijing. The CEO's relationship with Alice Huang helped facilitate shipments of at least $7.5 billion worth of Nvidia chips to Chinese firms, The Information reported on Tuesday, citing two people who know her. Alice Huang and Jensen Huang are not related. The allegations have intensified scrutiny of Nvidia's governance, export-control compliance and reliance on Huang's leadership, adding to investor unease over whether massive spending on artificial intelligence infrastructure will deliver adequate returns. Nvidia's shares fell more than 6 percent following a 4.3 percent drop on Monday, allowing Microsoft to overtake the AI bellwether as the world's second-most valuable company for the first time since June 2025. "The investment debate is whether this remains company-specific or triggers restrictions and disruption across AI infras