Trump defends Nvidia CEO Jensen Huang as board probes alleged foreign intelligence link

US President Donald Trump said he believes Nvidia CEO Jensen Huang is "a very honourable man" as the company's board opened a probe into whether the executive has been targeted by foreign intelligence. The investigation follows a New York Times report linking Huang to a Chinese businesswoman suspected of passing information to Beijing, a claim China has denied.

Trump told reporters at an impromptu White House news conference that the FBI is looking into the matter and expressed confidence in Huang's character. "I just know Jensen very well. I just think he’s a very honourable man, I mean, he built a great company, American company, and I think he’s a very honourable guy," he said.

Nvidia shares fell to a seven-month low after the report, erasing hundreds of billions of dollars in market value. The board’s probe comes as the company seeks to expand sales of its AI processors to China, a market that U.S. officials have previously sought to restrict through export controls.

Former US intelligence analyst Elly Rostoum told Bloomberg TV that the situation highlights how private-sector CEOs are central to the tech competition with China and described the alleged lapse as "quite careless."

Huang has maintained a close relationship with the president, including a trip to China on Air Force One in May and attendance at a state dinner for President Xi Jinping. Media reports say Nvidia pledged $25 million for a White House ballroom renovation and that Trump awarded Huang a national scientific honor in October. The president also disclosed recent trades of Nvidia stock, which a White House spokesperson said were managed by independent financial institutions.

The Chinese Ministry of Foreign Affairs rejected the espionage allegations as unfounded, calling them a smear campaign.