Nvidia has found itself at the center of a spying scandal as its CEO, Jensen Huang, admitted to an affair with an alleged Chinese intelligence asset. A couple of hundred billion dollars have been wiped off the company's value and law firms are already circling for blood.

A handful of law firms have announced they are urging investors to sign up to cover their losses through legal action or initial investigations, including Rosen Law Firm and Schall, Brown & Schwartz. They say they're going after the company on charges of false and/or misleading statements and failure to disclose key information.

An official Nvidia spokesperson previously denied claims that Jensen Huang had anything beyond a normal relationship with Alice Huang, the alleged spy, at the end of October. The company also vouched for Megaspeed, the Singaporean datacentre company that Alice Huang has been connected with, saying that any claims of its involvement in chip smuggling have been "thoroughly investigated and debunked"; which Megaspeed reiterates on its website.

Since then, Huang has admitted his relationship with Alice Huang was not a normal business relationship. Alice Huang has also been noted as a Chinese intelligence asset by US authorities; something which a memo circulated around the Trump administration is reported to have said at a much earlier date.

Nvidia's board is also launching an investigation into whether Jensen Huang was the target of foreign intelligence.

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