Nvidia’s value tumbles by $330bn after ‘honeytrap’ investigation launched, as China denies spying claims – business live

Shares in world’s most valuable company hit seven-month low after CEO Huang admits to affair, after allegations of relationship with Chinese spy

Nvidia opens investigation after report CEO Jensen Huang was target of foreign intelligence

Huang is receiving support from some fellow tech executives, including Elon Musk.

Musk commented “I agree” on a post by ​Sequoia partner Shaun Maguire that said Huang “did something incredibly dumb” that was “bad for America” but that “Jensen is irreplaceable for America’s AI leadership”.

“While Nvidia has sought to reassure us all, ​there are several layers here, beginning with the unfortunate timing.

“For example: The company is systemically important for tech, markets and the economy; Investors tend to struggle to price in key-person and governance issues; and there are fluid national security and geopolitical dynamics.”