Nvidia Enters Bear Market As Google Strikes Amid Jensen Huang's China Spy Woes

Nvidia, the engine of the AI boom, is in a bear market. Shares sank to about $177 on Monday, 26% below their October record, as a China spy scandal reached its CEO. A bear market means a fall of 20% or more from a peak. Nvidia sits in most US index funds, so ordinary savers share the pain. A China Smuggling Probe Lands at the Justice Department Nvidia’s board opened an inquiry Sunday after CEO Jensen Huang admitted an affair with Alice Huang, whom US intelligence reportedly suspected of spying for China. Her former employer, Megaspeed, is the bigger risk. The Singapore firm bought billions in Nvidia gear for Chinese clients. US officials suspected some chips were smuggled into China despite export bans.

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