Nvidia Probe: Board Launches Independent Investigation Into CEO Jensen Huang

SANTA CLARA: Nvidia has launched an independent investigation into whether its chief executive, Jensen Huang, was targeted by a foreign intelligence operation, following media reports alleging links between him and a Chinese businesswoman suspected of passing information to Beijing.

The company announced on Sunday that a committee of independent directors, supported by external legal counsel, would oversee the investigation and examine the available information.

The New York Times reported last month that Huang had a relationship with Alice Huang, an unrelated former executive of Singapore-based company Megaspeed. US authorities investigated the company and concluded that Alice Huang was a Chinese intelligence asset, according to the newspaper’s reporting.

US authorities have also scrutinised Megaspeed over suspicions that it helped China obtain advanced artificial intelligence chips from Nvidia despite restrictions on exports to the country. Megaspeed purchases AI chips from the US technology company.

Nvidia said its board had no reason to believe that US national security or the company’s confidential information had been compromised. However, it said the investigation would review the allegations and related information.

The company expressed confidence in Huang and its leadership team, adding that the CEO supported the review and had agreed to cooperate fully. Nvidia also said he remained committed to leading the company without interruption.

In a message to employees, Huang acknowledged that he had been unfaithful to his wife and accepted responsibility for his actions. He apologised to his family, colleagues, board members, business partners and shareholders, saying he had fallen short of the trust placed in him.

Huang also reaffirmed his commitment to Nvidia and said he would work to regain confidence in his leadership.

US President Donald Trump said on Sunday that he had not discussed the allegations with Huang but described him as an honourable person who had made an exceptional contribution to the company.

Asked whether he should have acted on intelligence briefings about the matter, Trump said he did not believe such action was necessary and suggested Huang should have an opportunity to explain the situation.

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The New York Times previously reported that Trump had received a briefing about the intelligence findings approximately a year earlier but decided not to act on the information.

US Secretary of State Marco Rubio declined to comment when reporters questioned him about Huang. China’s foreign ministry had not immediately responded to a request for comment, while Megaspeed also did not respond to an inquiry outside business hours.

Piling pressure on Nvidia

The investigation adds to pressure on Nvidia as investors reassess the sustainability of the artificial intelligence boom that helped turn the company into one of the world’s most valuable businesses.

The chipmaker, valued at approximately $4.5 trillion in the report, has seen its shares surrender their gains for the year amid a wider technology market downturn driven by concerns over the pace and scale of AI investment.

Huang, who has led Nvidia for more than three decades, has played a central role in transforming the company into a dominant supplier of advanced AI processors.

Dan Ives, partner and senior managing director at Yorkville Ives & Co, said the board’s findings could create uncertainty over Huang’s future and increase pressure on Nvidia shares because of his importance to the company’s strategy.

Ives also warned that the allegations could trigger congressional inquiries and intensify scrutiny of Nvidia’s business with China.

Josh Gilbert, lead analyst at trading platform eToro, said Huang had been closely associated with every major stage of Nvidia’s growth. He added that any uncertainty surrounding his leadership would therefore matter to shareholders.

Gilbert said the investigation could weaken investor sentiment, although its long-term impact would depend on whether it resulted in a change at the top.

The controversy comes as US lawmakers are already seeking answers about the company’s exposure to potential Chinese access to sensitive technology.

Republican lawmakers on the House of Representatives’ China committee have asked Huang to brief Congress this month about the allegations reported by The New York Times.

In a letter dated November 4, the lawmakers raised concerns about China’s potential access to sensitive US technology and information, calling for Congress to establish whether national security had been put at risk.

Since 2022, US export controls have restricted China’s access to advanced Nvidia processors and the equipment required to manufacture them.

The board’s investigation will now be closely watched by investors, policymakers and the technology industry as Nvidia faces questions over corporate governance, executive leadership and compliance with US national security priorities.