Nvidia faces $470 billion two-day wipeout, $1.7 trillion in market cap erased amid honeypot scandal

Nvidia shares extended losses on Tuesday, putting the chip giant on track to shed more than $470 billion in market value over two sessions as concerns mounted over the fallout from CEO Jensen Huang's affair with a Chinese businesswoman alleged to be a spy for Beijing.The CEO's relationship with Alice Huang helped facilitate shipments of at least $7.5 billion worth of Nvidia chips to Chinese firms, The Information reported on Tuesday, citing two people who know her. Alice Huang and Jensen Huang are not related.Nvidia's board launched an internal investigation on Sunday, and its independent directors on Tuesday said they had retained former acting US Attorney Joon Kim and law firm Wachtell, Lipton, Rosen & Katz to lead the company's investigation.The FBI is separately examining whether the 63-year-old Huang was targeted by a foreign intelligence operation. Huang has told employees he was unfaithful to his wife but provided no details about the relationship.The allegations have intensified scrutiny of Nvidia's governance, export-control compliance and reliance on Huang's leadership, adding to investor unease over whether massive spending on artificial intelligence infrastructure will deliver adequate returns.Trillions lost in massive share price collapseNvidia's shares fell more than 6% following a 4.3% drop on Monday, allowing Microsoft to briefly overtake the AI bellwether as the world's second-most valuable company for the first time since June…