Nvidia CEO Jensen Huang loses $7.4 million in a single day, slips out of top 10 billionaire list briefly amid affair probe

Nvidia shares fell as much as 7% after the company announced an investigation into CEO Jensen Huang, who acknowledged an affair and apologised. Nvidia chief executive Jensen Huang had a rather disappointing start to the trading week, with his personal fortune taking a $7.4 billion (Around ₹69,520.82 crore) hit in the first half-hour of trading on Monday, November 9, as the firm's shares slid amid a company investigation into his admission of an affair.A screengrab from CTI video footage obtained November 9, 2026 shows a woman identified by Reuters as Alice Huang after comparison with a photograph obtained separately, attending a dinner with Nvidia CEO Jensen Huang (in black) at a restaurant in Taipei, Taiwan May 22, 2025. (REUTERS)His net worth fell from $162.2 billion to $154.7 billion, pushing him down from eighth to 10th place on Forbes' real-time billionaire rankings, below Berkshire Hathaway's Warren Buffett and Oracle's Larry Ellison.Nvidia shares were down 5.5 per cent at 1:30 pm EST on Monday, after falling as much as seven in premarket trading, according to Forbes, whose report said the sell-off briefly wiped out $10.3 billion (around ₹96,747.07 crore) from Huang's fortune when the stock opened more than seven per cent lower, taking him outside the world's 10 richest people.Deep DiveThe company's market capitalisation also fell from $4.5 trillion at Friday's close to $4.24 trillion by Monday afternoon, widening the gap with Apple in the race for the world's most valuable publicly listed company.The decline came on the first trading day after Nvidia announced an investigation into Huang. In a statement to employees on Sunday, the CEO acknowledged an affair, apologised to his wife, children as well as Nvidia colleagues for his actions and said he supported the probe.A photo shows NVIDIA CEO Jensen Huang with a woman confirmed by a Reuters source to be Alice Huang in Taipei, Taiwan released on June 7, 2024 (REUTERS)Nvidia's board said it had appointed a committee of independent directors, along with outside legal counsel, to examine all available information. However, it added that it had "no reason to believe that either national security or NVIDIA secrets were compromised."Nvidia chief's affair with ‘Chinese spy’The controversy follows a report by The New York Times late last month that US intelligence agencies had assessed that Huang had a close relationship with Alice Huang, a Chinese citizen suspected of gathering information for Beijing. The Times reported that US intelligence had briefed President Donald Trump on its findings about her around a year ago, but he had taken no action.An Nvidia spokesperson had told the newspaper that "Jensen's interactions with Ms. Huang are not unusual or unexpected", adding that meeting customers was part of his job.Huang has also emerged as an ally and technology adviser to Trump, whose administration rolled back restrictions introduced under former president Joe Biden to limit global exports of AI chips. Trump defended the Nvidia chief on Sunday, describing him as an "honorable guy" and saying he would still accompany him on his upcoming trip to China.Who is Alice Huang?According to The New York Times, Alice Huang was recruited by Beijing's top spy agency to gather information on Jensen Huang for China's Ministry of State Security. The newspaper cited a memo circulated within the Trump administration. It remains unclear when the two first met, although they were photographed together at a bar in June 2024.She has reportedly maintained relationships with other AI chip industry executives, including those at Gigabyte, which assembles Nvidia supercomputers.Alice Huang has described herself as the chief executive of Singapore-based Megaspeed, a neocloud and AI computing services provider. However, the company removed her as managing director in its paperwork after its first eight months, The Times reported.A screengrab from CTI video footage obtained November 9, 2026 shows a woman identified by Reuters as Alice Huang after comparison with a photograph obtained separately, attending a dinner with Nvidia CEO Jensen Huang at a restaurant in Taipei, Taiwan May 22, 2025 (REUTERS)Megaspeed was formed in 2023 after Chinese gaming and cloud computing company 7Road spun off its overseas operations in Singapore. The company partners with Nvidia and supplies its technology across the Asia-Pacific region. It has also been under US scrutiny over China's access to Nvidia chips since 2024, when a Commerce Department official found Nvidia equipment still boxed at a data centre site in Malaysia, raising concerns that it could be shipped elsewhere.What next for Nvidia and Jensen Huang?The controversy comes at a crucial time for Nvidia, which has been at the centre of the global AI boom. The company is scheduled to announce its quarterly earnings next Tuesday after the market closes.Its second-quarter results showed its data centre business generating $89 billion in revenue, up 117 per cent year-on-year and accounting for around 92% of the company's total revenue. Nvidia reported overall revenue of $96.2 billion, beating market expectations.The coming days are crucial for Nvidia and Jensen Huang with focus on two fronts: the outcome of the board's investigation and whether the controversy begins to weigh on investor confidence in the world's leading AI chipmaker.The affair has also led to isolated chatter what is Jensen Huang's future in Nvidia, with some even wondering if a resignation is upcoming. However, traders on prediction markets think it’s unlikely Huang will be ousted as Nvidia chief.A screengrab from CTI video footage obtained November 9, 2026 shows a woman identified by Reuters as Alice Huang after comparison with a photograph obtained separately, attending a dinner with Nvidia CEO Jensen Huang (in black) at a restaurant in Taipei, Taiwan May 22, 2025. (REUTERS)On Kalshi, speculators project just a 17 per cent chance of Huang going by 2027, according to a CNBC report, which added that the odds rise to 30 per cent by 2028, and 35 per cent by 2029. However, the speculators think there is a 75 per cent probability that Huang will depart by 2031.On Polymarket, speculators project just one-in-four odds that Huang steps down or is forced out by the end of March 2027, according to the reportNayanika is a Chief Content Producer at Hindustan Times, based in New Delhi, with over six years of experience in the digital media industry. She specialises in delivering clear, insightful coverage across general, national, and international beats, with a strong focus on breaking news and in-depth explainers. Known for her ability to decode complex developments, she enjoys unpacking layered political and policy issues into accessible, reader-friendly narratives that inform without overwhelming. She has previously worked in India's leading newsrooms, including India Today, News18, and Outlook, where she chased news, covered major events of the past six years and led teams. With a Master's degree in Political Science, Nayanika has a keen interest in international relations and global affairs. Her academic grounding shapes her analytical approach to stories, enabling her to connect the dots between domestic events and broader geopolitical currents. She is particularly drawn to stories that require context, nuance, and clarity - turning complicated subjects into compelling reads. Outside the newsroom, Nayanika is a passionate gourmand who loves cooking and sharing meals with loved ones. When she's not writing or tracking the latest headlines, she can often be found exploring local markets for fresh ingredients, seeking inspiration for her next culinary experiment.Read MoreJensen HuangChinaGet the latest World News, breaking headlines and global updates from the US, UK, Pakistan, Bangladesh, Russia and other countries along with latest US midterm elections update. Follow major international events on Hindustan Times.