Nvidia sits at the center of the whole circular AI financing scheme. The leadership crisis at the chip giant is deepening as successive reports about CEO Jensen Huang's extramarital affairs continued overnight.
Huang recently acknowledged an extramarital affair with a woman reportedly suspected by US officials of working for Chinese intelligence. A separate report overnight alleged a romantic relationship with Nvidia executive Kimberly Powell.
Shares plunged about 7.5% in premarket trading as the Nvidia board weighs Huang's fate.
The Huang saga is moving quickly, and Beijing is getting angry.
China accused Washington earlier today of using spy allegations against Huang as a pretext to tighten restrictions on Chinese access to advanced AI chips.
Foreign Ministry spokeswoman Mao Ning urged US officials to stop fabricating "spy" narratives to justify a technological "blockade."
Beijing has rejected those allegations as "groundless speculation" and an attempt to smear China.
The spy allegations center on Alice Huang, a former executive at Singapore-based Megaspeed whom US officials reportedly suspect of working as a spy for Beijing.
Meanwhile, Commerce Secretary Howard Lutnick has been cau
