Nvidia shares extended losses Tuesday, putting the chip giant on track to shed more than $470 billion in market value over two trading sessions as concerns mounted over fallout from CEO Jensen Huang's affair with a Chinese businesswoman alleged to be a spy for Beijing.
Shares fell more than 6 percent Tuesday following a 4.3 percent drop Monday, when the company shed $192 billion in market value. Tuesday's decline put another roughly $221 billion at risk.
The CEO's relationship with Alice Huang, who is not related to Jensen Huang, helped facilitate shipments of at least $7.5 billion worth of Nvidia chips to Chinese firms, The Information reported Tuesday, citing two people who know her.
The allegations have intensified scrutiny of Nvidia's governance, export-control compliance and reliance on Huang's leadership. Investor concerns have grown over whether massive spending on artificial intelligence infrastructure will deliver adequate returns.