Nvidia nears $470 billion wipeout as CEO probe deepens
What's new: Independent directors hired outside counsel as the FBI examines whether Jensen Huang was targeted by foreign intelligence.
Nvidia shares extended their slide on Nov. 10, putting the chipmaker on track to lose more than $470 billion in market value over two sessions as scrutiny intensified around CEO Jensen Huang. The board has already opened an internal investigation, and independent directors retained former acting U.S. Attorney Joon Kim and Wachtell, Lipton, Rosen & Katz to lead the probe. The FBI is separately examining whether Huang was targeted by a foreign intelligence operation. The Information reported that Alice Huang, a Chinese businesswoman alleged to be a spy for Beijing, helped facilitate shipments of at least $7.5 billion of Nvidia chips to Chinese firms through a network spanning China and Singapore.