1. The whole spy / compromising national security thing are as far as I know unproven.
2. Affairs by themselves, while not ethical, are fairly tame compare to other prominent tech figures like Musk.
If it comes out that he did indeed compromise national security knowingly, then that's a different matter of course.
I'm not even that bothered about those chips going to China. But, like a lot of other aspects that leave us wondering how big and how fragile an AI bubble exists, the fact that billions of dollars of Nvidia revenue is from a reportedly priority customer that isn't actually using the chips is the problem.
It’s important to not confuse your own feelings, usually born from jealousy and various ego related failings, with morality.
Polygamy is not concubinage is not having extramarital affairs
Making a promise to someone of exclusive sexual intimacy and then breaking that promise is recognized near universally as a moral failing. He knew such an affair would hurt not just shareholders financially but people emotionally.
Maybe the guy isn't totally morally fiberless, but I think most people would agree that such behavior is a (non-trivial) moral failing.
Particular notions or feelings of right and wrong that you may have because of prevailing norms in the particular era and location which you live or grew up in don’t necessarily have any bearing on what is moral or not.
There will be a lot of noise, it will be embarrassing, but I just can't imagine a situation where it significantly impacts their bottom line.
The bear case here is pretty much that you think AI is a bubble anyway, and this just accelerates it.
It would be hypocritical to both use DeepSeek and also be outraged at the (alleged) mechanisms through which China acquires GPUs.
But one of the wealthiest people on the planet gets fired, suffering zero personal hardship as a result, and everybody's up in arms. How could you do this! They all do this, how dare you single him out!
I think that there's a pervasive idea, especially in the tech/startup space, that making money is a moral good. Not merely that making money is compatible with being a good person, but that it makes you a good person, and the more you make the more good you are. Firing an ultra-rich person is therefore basically an affront to a saint. Never mind that it doesn't put them under any hardship, that they and their heirs will still be wealthier than any of us can even conceive of. It's morally wrong to do anything bad to such a good person.
Ezra Klein interviewed Jensen about 1.5 months ago and I had an off-putting feeling from it, and thought a lot of his answers were laughable. He sounded like he was obviously lying. A few days later, Klein interviewed Bill Gates and sort of anonymously brought up the arguments that Jensen made. You could see a visible disbelief of the arguments in Gates' face and posture, even saying "I almost can't believe you're asking that". (Not that Bill Gates is some paragon, but it wasn't close to a respectful disagreement.)