Nvidia Board Opens Independent Investigation Into CEO Jensen Huang

Nvidia's board of directors has opened an independent investigation into CEO and co-founder Jensen Huang following reports that he was the target of a Chinese intelligence operation. The board hired law firm Wachtell, Lipton, Rosen & Katz to lead the probe, with partner Joon H. Kim leading the investigation. Kim is a former acting attorney of the Southern District of New York.

The investigation follows reports by The New York Times and the Financial Times about Huang's relationship with Alice Huang, a Chinese businesswoman whose Singapore-based company, Megaspeed, was buying Nvidia's advanced chips. The newspapers reported that Alice Huang had been recruited to spy for China. The two are not related.

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.

Nvidia's board said in a statement: "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 board added that while it "has no reason to believe that either national security or NVIDIA secrets were compromised, the Board's inquiry will examine all available information."

In a memo to Nvidia employees, Huang said: "I was unfaithful to my wife. My actions hurt her and our children. There is no excuse for what I did." He also wrote: "I am fully committed to NVIDIA and will work to earn back your confidence." Huang did not mention Alice Huang by name in his message to the company.

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 more than 4%, erasing almost $200 billion in value. Nvidia is the world's second-largest publicly traded company as of Friday, worth nearly $4.5 trillion.

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."

Three House Republican committee chairs sent a letter to Huang on Wednesday asking him to sit for a closed-door briefing with lawmakers on Nov. 18. Nvidia reports third-quarter earnings on Nov. 17.

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.