Shares of chipmaker Nvidia fell 13% within an hour of the opening bell on Wall Street on Thursday, dropping to $151, after chief executive Jensen Huang resigned.
Huang stepped down from all his roles at Nvidia on Thursday after it emerged that he had a close romantic relationship with a woman suspected, with a high degree of probability, of being a Chinese spy. According to the report, the woman worked to help Beijing get around the United States embargo on advanced chips to China.
A further relationship between Huang and another senior executive at the company came to light on Thursday morning, prompting board members to discuss his possible removal.
Nvidia's stock has lost 16.6% of its value since the affair was first exposed earlier this week, cutting the company's total market value by about $747 billion. Roughly $436 billion of that was wiped out after Huang's resignation.
