Nvidia launches independent investigation into CEO Jensen Huang amid foreign intelligence allegations

Nvidia announced on Nov. 8 that its board has commissioned an independent investigation after media reports suggested CEO Jensen Huang may have been the focus of a foreign intelligence operation. The probe will be overseen by a committee of independent directors with outside counsel, and will examine all available information, though the board said it sees no evidence that U.S. national security or Nvidia secrets were compromised.

Huang addressed employees, acknowledging an affair and taking full responsibility, saying, "My actions hurt her and our children. There is no excuse for what I did. I am deeply sorry." He added, "My responsibility is to serve you and be worthy of your trust. I have fallen short of that responsibility. I am fully committed to NVIDIA and will work to earn back your confidence."

The New York Times had earlier reported a relationship between Huang and Alice Huang, a former executive of Singapore-based Megaspeed, a company under U.S. investigation for allegedly helping Beijing obtain advanced AI chips barred from export.

Analyst Dan Ives of Yorkville Ives & Co. warned that the investigation could jeopardize Huang’s position and increase stock volatility, stating, "There is clearly risk that Jensen could be removed as CEO depending on the Board investigation and this will add risk to the stock as he is so important to the Nvidia story and strategy globally." He also noted potential congressional scrutiny and heightened concerns over chip sales to China.

Republican lawmakers have urged Huang to brief Congress, citing national-security worries about China’s access to sensitive technology. Huang reiterated his commitment to protecting Nvidia and supporting U.S. national security. The company emphasized that its cloud customers in Asia receive only ordinary business information, not trade secrets or classified data.