The president of Nvidia left the company after a sex scandal with a Chinese spy.
Jensen Huang was caught having an affair with businesswoman Alice Huang, who was recruited by the Chinese Ministry of State Security. Her middle name is Juan Le. The spy passed information to the PRC about Nvidia's developments in the field of AI, and also influenced the company's decisions.
Then the newspaper "New York Times" accused the CEO of another betrayal - with 48-year-old Kimberly Powell. She served as Nvidia's vice president of healthcare.
After the investigation was published, Huang admitted to the adultery in an open letter to the company's employees and apologized to his colleagues, the board of directors and shareholders. Then the CEO resigned, Bloomberg reports.
Against the background of the scandal, Nvidia shares quickly fell - three days later they reached a price of $156 per share, and lost 13%. Over the past few days, the company has lost hundreds of billions of dollars in capitalization. Huang's fortune dropped by $7.5 billion in the first 24 hours alone, Forbes calculated.