Nvidia stock reacts as Huang admits to an affair with a Chinese spy, Anthropic moves ahead with IPO

What happened: Nvidia CEO Jensen Huang admitted to an affair with a woman suspected of spying for the Chinese government, and Nvidia stock dropped as US national security and US-China relations came into focus. Key numbers: Anthropic is targeting a $1.5 trillion valuation in its IPO. New York Times photos of Huang and Alice Wong date to June 2024. Why it matters: The hosts said Huang's past advocacy for keeping the Chinese chip market open can no longer be taken at face value, and Congress is expected to receive a briefing on the matter. Market: -3.2% today ($105.72), -31.5% YTD, 0.6x vol — as of 17:03 UTC Coverage: 15 outlets in 24h

Nvidia CEO Jensen Huang admitted to an affair with a woman suspected of spying for the Chinese government, and Nvidia stock dropped as US national security and US-China relations came into focus.

The hosts said Huang's past advocacy for keeping the Chinese chip market open can no longer be taken at face value, and Congress is expected to receive a briefing on the matter. Market: -3.2% today ($105.72), -31.5% YTD, 0.6x vol — as of 17:03 UTC