Nvidia loses $325 billion at open after CEO affair news

Tiger Woods' cheating scandal cost his sponsors up to $12 billion. The guy who runs Nvidia admitted to cheating on his wife, and the company lost about $325 billion this morning before most people in California had finished their coffee. And the woman he cheated with is someone US intelligence thinks was spying for China. Jensen Huang owns about 3.5% of Nvidia, so he personally lost something like $11 billion on paper at the opening bell. That's basically the entire Tiger scandal, every dollar Nike, Gatorade, Gillette and EA shareholders lost back in 2009, coming out of one guy's pocket in a few minutes. The stock got some of it back and finished the day down 4.27%, about $192 billion. Meanwhile the rest of the market was having a great day. The Nasdaq was up 2.74%, the S&P had its best…

Exclusive: Congress appears poised to pass three bipartisan export control bills in the coming weeks, after Nvidia's lobbying helped stall new China chip curbs for nearly two years. CEO Jensen Huang's alleged relationship with a suspected Chinese spy has made the case for action easier to argue on Capitol Hill. Full story:

NEW: Forget Alice Huang's role at Megaspeed, that's almost a distraction. The real story is her role at China-based Shanghai Century Litong, which became a "preferred" Nvidia cloud partner in mid-2023 and facilitated >$7.5b in Nvidia chip shipments, incl securing BANNED chips.