Nvidia Board Opens Independent Investigation Into Jensen Huang Over Alleged Chinese Spy Affair

Nvidia's board of directors launched an independent investigation into co-founder and CEO Jensen Huang after reporting by The New York Times, the Financial Times and The Information revealed he had carried on a romantic relationship with Alice Huang, a Chinese businesswoman whom U.S. intelligence assessed was recruited by China's Ministry of State Security to gather information on him. Huang disclosed the affair in a memo to Nvidia staff on Sunday, and the board said a committee of independent directors would work with outside counsel to examine all available information. The board said it had no reason to believe national security or Nvidia secrets had been compromised, and an Nvidia spokesperson said Huang was committed to continuing as CEO without interruption.

Alice Huang is an executive at Megaspeed, a Singapore-based technology company that U.S. authorities have suspected of helping restricted Chinese entities acquire Nvidia AI chips in circumvention of export controls. The Information reported that Huang's yearslong ties to Alice Huang aided Nvidia chip sales to China, adding a commercial dimension to the national security concerns. Jensen Huang has also been an active lobbyist with the Trump administration to loosen export controls on chips sold to China, a posture that critics say takes on new significance in light of the relationship.

Nvidia shares fell 4.3% on Monday, erasing nearly $200 billion in market value. Congress added pressure from both parties, with a hearing scheduled for November 18 at which lawmakers are expected to question Nvidia's conduct. Governance experts questioned whether Nvidia's board, which has historically been deferential to Huang as he built the company into a global AI chip giant, is sufficiently independent to conduct a credible inquiry.