Nvidia board opens independent investigation into CEO Jensen Huang

Nvidia’s board of directors announced Sunday that it is opening an independent investigation after CEO Jensen Huang was reported to be the target of a foreign intelligence effort. The probe follows reports that Huang had an affair with Alice Huang, a Chinese businesswoman whose Singapore-based company, Megaspeed, was buying Nvidia’s advanced chips. The two are not related.

“The NVIDIA Board is initiating an independent investigation in light of recent reporting that founder and CEO Jensen Huang has been the target of a foreign intelligence effort,” the company said in a statement.

A committee of independent directors, assisted by outside independent counsel, will oversee the investigation. The board said it has no reason to believe that either national security or Nvidia secrets were compromised, but the inquiry will examine all available information. Nvidia said Huang will continue to lead the company during the probe and that the board continues to have confidence in Jensen and his leadership team.

In a memo to employees, Huang wrote: “I was unfaithful to my wife. My actions hurt her and our children. There is no excuse for what I did.” He also said: “I support the investigation and will cooperate fully. I love our country and our company. I am committed to protecting NVIDIA and supporting America's national security.”

A person familiar with the matter told NBC News that U.S. intelligence agencies had determined that Alice Huang was a Chinese spy and had a relationship with Jensen Huang. The New York Times and the Financial Times reported that Alice Huang had been recruited to spy by China’s top intelligence agency and had been under surveillance by U.S. intelligence agencies.

Chinese Foreign Ministry Spokesperson Guo Jiakun said Monday that “the so-called Chinese spy allegation is unsubstantiated. It is nothing but smears against China.”

Nvidia shares fell nearly 5% in early pre-market trading Monday, which would erase about $230 billion in value. The drop did not immediately spill over into other major tech stocks or to Nvidia’s peers, all of which appeared largely unaffected in early Monday trading.

President Donald Trump gave Huang his complete support, telling reporters that he thinks Huang is a “fine person” who should remain CEO of Nvidia. “I think he’s an honorable guy,” the president said. “He’s done an amazing job for our country.”

Top House Republicans requested a briefing from Huang about the reports. “Recent reports raise significant national security concerns regarding the PRC’s access to sensitive U.S. technology and information,” said Rep. John Moolenaar, R-Mich., who is also chairman of the House Select Committee on China.

Sources

This article was drafted with AI assistance and checked against the sources above. Company claims are reported as claims. Cover image is AI-generated.