Nvidia CEO Jensen Huang resigns amid scandal
Nvidia's share price fell following Jensen Huang's admission of a relationship with a Chinese executive. This disclosure occurred amid accusations that Alice Huang is a Chinese intelligence agent. The company, which controls nearly 90 percent of the AI chip market, has seen approximately $430 billion in market value lost.
- Jensen Huang admitted to a relationship with a Chinese executive.
- Washington restricted the sale of advanced Nvidia chips to China since 2022.
- Alice Huang has been accused of being a Chinese intelligence agent.
- Nvidia is the world’s biggest supplier of high-end chips for AI and data centres.
- Trade records indicate over US$3 billion in chips crossed from Singapore to China in a single year.
- About $430 billion has been lost from Nvidia's market value.
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