Nvidia CEO Jensen Huang Admits Affair With Woman US Officials Reportedly Say Was a Chinese Spy; Board Opens Investigation

Nvidia’s board announced an independent investigation on Sunday after Chief Executive Jensen Huang admitted to an affair with a businesswoman whom US intelligence agencies reportedly determined was a Chinese spy, a scandal that has erased nearly $200 billion from the company’s market value and drawn calls from Congress for him to testify. No criminal charges against Huang or the woman have been reported.

The controversy erupted after The New York Times reported that the woman, Alice Huang, also known as Huang Le, had a relationship with Jensen Huang. The two are not related, despite sharing a surname, according to Al Jazeera. NBC News, citing a person familiar with the matter, reported that US intelligence agencies concluded that Alice Huang, whose company was buying Nvidia’s advanced chips, was a Chinese spy. Axios, citing the Times, reported that she had been recruited to seek information and potentially push for Nvidia’s most advanced chips to be made available in China, in defiance of US restrictions. These claims are based on anonymous sourcing and have not been proven in court.

In a memo to employees that the company shared with NBC News, Huang wrote that he was “unfaithful” to his wife. In a draft email to staff obtained by Axios, he said he owed his family and his colleagues an apology, took “full responsibility” for his actions and acknowledged that he had fallen short of his responsibilities to employees, the board and shareholders. He wrote that he was committed to Nvidia and would work to earn back colleagues’ confidence.

The board said it was starting an independent investigation “in light of recent reporting” that Huang had been the target of a foreign intelligence effort. Bloomberg reported that it is assembling a committee of independent directors to work with outside counsel. Nvidia told CNN that the news “will not slow” the company and that Huang is committed to continuing as chief executive without interruption. The company had earlier said Huang’s meetings were “not unusual or unexpected,” according to CNN.

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The market reaction was immediate. Nvidia shares fell 4.3 percent on Monday, wiping out nearly $200 billion in market value, Bloomberg reported, and the stock decline reduced Huang’s personal wealth, The Week said. The Week also reported that the company and Huang face a shareholder lawsuit, and that President Donald Trump said the FBI is investigating the allegations. Bloomberg said the scandal could reverberate across the whole AI industry, which depends heavily on Nvidia’s chips.

The political reaction has been divided but intense. Republican lawmakers called on Huang to testify before Congress on November 18, arguing that the allegations raise serious questions about China’s potential access to sensitive US technology, Al Jazeera reported. The controversy has prompted bipartisan pressure in Washington. Trump, a close ally of Huang who has treated him as an adviser, defended him, calling him “an honorable guy,” according to Al Jazeera. In comments to NBC, he described Huang as a “fine person” who has done an “amazing job” for the country.

The case touches one of Washington’s most sensitive policy debates. The US government has sought to prevent China from obtaining advanced American semiconductors, including Nvidia’s most powerful AI chips, as the two countries compete for leadership in artificial intelligence. Huang has been outspoken in arguing that Nvidia should be allowed to sell to China, and he attended a state banquet in Beijing for Trump and Chinese President Xi Jinping on May 14 this year. His critics will use the allegations to argue that his lobbying deserves greater scrutiny. His supporters will say that being the target of an intelligence effort does not mean he acted on anything.

The family angle has also drawn attention. Huang’s daughter, Madison, who works at Nvidia, canceled a planned visit to South Korea for an Nvidia AI event amid the controversy, according to Al Jazeera.

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Many questions remain unanswered. It is not publicly known what, if anything, Huang shared with Alice Huang, whether any sensitive information was exchanged, when US officials became aware of the relationship, or what role the woman’s company played in Nvidia’s chip sales. The board’s investigation is expected to look at these issues, as are federal authorities. Nvidia has not published details of the review’s scope or timeline.

For Nvidia, the stakes are high. It is the world’s leading supplier of the chips that power AI, and it has relied on Huang as its public face and co-founder for more than three decades. Investors will watch for the findings of the board’s inquiry, the November 18 hearing and any decision by regulators. For now, the company’s message is continuity, while its shares, lawmakers and rivals are reacting to an unusually personal scandal at the centre of a national security debate.