Nvidia, the US chipmaker best known for its AI processors, lost about US$430 billion in market value over two sessions as scrutiny intensified over CEO Jensen Huang’s relationship with a Chinese businesswoman alleged to be a spy, and over chip shipments to China.

Senate Democratic leader Chuck Schumer called for answers from the Trump administration and tighter US chip export curbs, while Nvidia’s independent directors hired outside counsel to investigate.

Secretary of State Marco Rubio had briefed President Donald Trump on the relationship and the alleged intelligence concerns, according to third-party reports.

The White House disputed the report. Trump said Huang told him he did not know about any alleged ties.

Nvidia said its board had no reason to believe US national security or company secrets were compromised. The company’s shares have fallen 9.5% since news of the affair broke.

The US tightened curbs on AI chip exports to China in 2023.

The reports could not be independently verified.

🔗 Source: Reuters