Nvidia Board Probes Whether CEO Jensen Huang Was Targeted by Chinese Intelligence Over Megaspeed Ties

On Sunday, Nvidia announced that its board had opened an independent investigation into whether its founder and chief executive, Jensen Huang, was the target of a foreign intelligence effort. The announcement followed a media report alleging that Huang had a close relationship with a Chinese businesswoman who passed information to Beijing.

The New York Times reported last month that Huang had a relationship with Alice Huang, a former executive at the Singapore-based company Megaspeed. She is not related to him. According to the Times, US authorities investigated her and concluded she was a Chinese intelligence asset. Megaspeed buys AI chips from Nvidia, and US authorities have scrutinized it over suspicions that it helped Beijing obtain advanced AI chips barred from shipment to China. The company did not immediately respond to a request for comment outside business hours.

In a message to employees, Huang said he had been unfaithful to his wife and took "full responsibility." He wrote that his actions hurt her and their children, that there was no excuse, and that he was deeply sorry. Addressing colleagues, the board, partners and shareholders, he said he had fallen short of his responsibility to be worthy of their trust and would work to earn back their confidence. He also said he was committed to protecting Nvidia and supporting America's national security. In late October, he had told Bloomberg News that his interactions with Alice Huang were related to Megaspeed and were "completely normal and not unusual."

Nvidia said a committee of independent directors, assisted by outside independent counsel, will oversee the investigation, and that it will examine all available information. The company said the board has no reason to believe US national security or Nvidia's secrets were compromised. It added that the board has confidence in Huang and his leadership team, that Huang supports the review and will cooperate, and that he is committed to leading the company without interruption.

President Donald Trump said Sunday that he had not spoken to Huang about the allegations but called him a fine person. "He's done such an incredible job," he said. Asked whether he should have acted on the intelligence when briefed, Trump said no, calling Huang an honorable guy who probably has an excuse. The Times had reported that Trump was briefed on the findings roughly a year ago and did nothing with them. Secretary of State Marco Rubio declined to comment on Huang when asked by reporters earlier in the evening.

The inquiry lands at a hard moment for the company. Nvidia, valued at $4.5 trillion, has seen its shares give up all of this year's gains amid a broader tech rout driven by worries over the pace of AI spending. Huang has led the company for more than three decades and has been central to its rise as a dominant supplier of AI chips. Dan Ives of Yorkville Ives & Co. said there is clear risk that Huang could be removed depending on the board's findings, called it a "black eye moment," and predicted multiple congressional inquiries and greater scrutiny of chip sales to China. Josh Gilbert, lead analyst at eToro, said the probe would likely dent sentiment but change nothing long-term unless it leads to a change at the top.

Congress is already involved. Top House Republicans sent a letter dated November 4 asking Huang to brief them this month, citing significant national security concerns about China's access to sensitive US technology and information. They wrote that Congress must determine how far US security has been put at risk. US export controls since 2022 have sought to limit China's access to advanced Nvidia chips and the equipment to make them. What to watch next: the board committee's findings, and whether Huang appears before lawmakers.