Nvidia and CEO Jensen Huang sued over alleged concealment of ties to suspected Chinese intelligence asset
Shareholders filed a proposed class action in San Jose alleging that Nvidia and its chief executive misled investors by not disclosing a relationship with a person accused of spying for China, which they say impacted the company’s stock price.
A federal lawsuit was filed Monday in San Jose, California, accusing Nvidia and chief executive Jensen Huang of defrauding shareholders by allegedly hiding Huang's relationship with Alice Huang, a former executive of Singapore-based Megaspeed who U.S. authorities have identified as a Chinese intelligence asset. The complaint says the company failed to disclose that the matter raised national-security concerns that could damage Nvidia's reputation and business prospects.
The New York Times reported last month on the alleged relationship and the intelligence assessment. Nvidia did not immediately respond to a request for comment. Jensen Huang reportedly told employees that he had been unfaithful to his wife, without providing further details.
Nvidia announced a probe into the issue on Sunday. The company’s shares closed down 4.3% on Monday, trimming its market value by roughly $190 billion. The lawsuit was filed shortly after the U.S. stock market closed.
Shareholders led by Mark Kistenmacher are seeking unspecified damages on behalf of anyone who purchased Nvidia stock between Oct. 9, 2025, and Nov. 8, 2026, the period covering the New York Times report and Nvidia’s announcement of an investigation.