NVIDIA shares plunge at US market open, market cap evaporates by over $500 billion
Affected by Jensen Huang's resignation, NVIDIA's stock price plummeted by 13% to 14% at one point, with its market capitalization evaporating by over $500 billion.
Affected by Jensen Huang's resignation, NVIDIA's stock price plummeted by 13% to 14% at one point, with its market capitalization evaporating by over $500 billion.
Chinese Foreign Ministry spokesperson Mao Ning stated at a press conference that the U.S. should stop fabricating spy narratives, and emphasized that China and the U.S. are maintaining communication regarding interactions between their heads of state.
According to Reuters and The Information, the U.S. Department of Commerce is finalizing new rules that would restrict Chinese AI companies from using high-end Nvidia chips to train models remotely via data centers in Singapore, Malaysia, Thailand, and other locations. The new rules could be announced as early as this month.
Bloomberg, citing people familiar with the matter, reported that Huang Le, founder of SuperSpeed International and a close associate of Nvidia CEO Jensen Huang, has returned to China and is currently living in Beijing, a fact known to Chinese security authorities.
Megaspeed, a Singaporean company co-founded by Kang Wei and his wife, has become an Nvidia cloud partner and is suspected of shipping servers equipped with Nvidia chips to China. The US and Singapore are investigating its related business, while the company denies violating export controls.
SCMP exclusively reports that American business leaders including Musk are expected to visit China with Trump, and Jensen Huang has also been in communication about joining the delegation.
On November 9, the Global Times posted on Weibo regarding Jensen Huang's public extramarital affair, calling it a US domestic matter, accusing The New York Times of hyping up Chinese espionage, and suspecting that some are using this to stir up China-US relations.
Nvidia CEO Jensen Huang sent a letter apologizing to his family regarding media reports that a female executive close to him, Huang Le, was working for the Chinese state security. The move is viewed by outsiders as an attempt to evade suspicions of collusion with the CCP by admitting to an affair.
According to reports, this memo regarding the relationship between Jensen Huang and Huang Le was circulated among a small number of high-level U.S. officials before Trump traveled to Beijing to meet with Xi Jinping.
A second follow-up report by The New York Times indicates that Huang Le is a spy directly recruited by the state security (MSS), tasked with getting close to and keeping an eye on Jensen Huang.
On November 5 local time, the United States announced sanctions against the China National Electronics Import & Export Corporation (CEIEC) and Beijing Huacheng Haopu Technology Co., Ltd. related to Cuba, accusing the two companies of cooperating with the Cuban military procurement enterprise Duna in 2026 to supply military equipment and components to the Cuban military. CEIEC was previously sanctioned in 2020 for assisting the Maduro government in Venezuela.
Republican chairs of three House committees jointly wrote a letter inviting Jensen Huang to attend a closed-door briefing at Congress on November 18.
Due to involvement in an incident of leaking goods to CCP spies which alarmed the U.S. government, the Nvidia board is considering removing Jensen Huang from management to distance the company.
The United States and Taiwan have signed an agreement under which U.S. federal government officials will be stationed in Taiwan's Legislative Yuan and various ministries for joint operations.
The U.S. Department of War announced on October 19 the completion of preliminary research security reviews of 30 universities, resulting in the termination of more than 80 collaborative partnerships related to entities on the list.