Nvidia has launched an independent investigation into chief executive Jensen Huang following allegations that he had a relationship with a woman suspected by US intelligence officials of having links to Chinese espionage. The controversy has drawn attention in Washington, raised questions about the security of sensitive semiconductor technology and unsettled investors in the world’s most valuable chipmaker.
The investigation was announced on Sunday, a day after Huang acknowledged having an extramarital affair in a message to Nvidia employees. The company said independent members of its board, supported by external legal advisers, would examine whether foreign intelligence services had targeted the chief executive and whether the allegations raised any security concerns for the business.
The controversy follows an October 29 report by The New York Times, which alleged that Huang had developed a relationship with Alice Huang, also known as Huang Le, a former executive at Megaspeed, a Singapore-based data centre company. According to the newspaper, US intelligence officials suspected Alice Huang of working for Chinese intelligence and attempting to obtain information about Nvidia’s technology.
These allegations have not been independently established. China has rejected the accusations, while Nvidia has said it has found no evidence that its confidential technology or US national security has been compromised.
In a statement, Nvidia’s board said it had no reason to believe that company secrets or national security had been affected but would examine all available information as part of its inquiry. The board also expressed confidence in Huang, who will remain in his position as chief executive while the investigation continues.
Huang addressed the personal allegations directly in his message to employees, apologising for his conduct and acknowledging the impact on his family.
“I was unfaithful to my wife. My actions hurt her and our children. There is no excuse for what I did,” he wrote. He also reaffirmed his commitment to Nvidia and US national security.
The allegations have had an immediate effect on Nvidia’s shares. According to Reuters, the company’s stock fell by more than 6% in Frankfurt trading on Monday, putting approximately $270 billion of its market value at risk. Trading indications in the United States also pointed to substantial losses, adding financial pressure to an investigation involving one of the most influential companies in the global technology industry.
The matter has also reached the US Congress, where lawmakers are seeking clarification about whether Nvidia’s technology, commercial information or other sensitive material could have been exposed to Chinese authorities.
Republican congressional leaders John Moolenaar, Brian Mast and Rick Crawford have requested that Huang attend a closed-door briefing on November 18. They want to discuss the allegations and the company’s procedures for protecting sensitive information.
Democratic Senator Elizabeth Warren has also demanded answers from Nvidia. Her intervention has renewed attention on efforts to introduce legislation limiting China’s access to advanced American semiconductor technology, an issue that has remained central to tensions between Washington and Beijing.
China’s Foreign Ministry has rejected the espionage allegations. Spokesperson Guo Jiakun described the claims as groundless and accused those making them of attempting to damage China’s reputation.
The investigation has also brought renewed scrutiny to Megaspeed, the Singapore-based company previously associated with Alice Huang. The company reportedly purchased approximately $4.8 billion worth of Nvidia equipment and has faced separate allegations that its operations helped circumvent US restrictions on semiconductor exports to China.
Megaspeed previously told The New York Times that it had appointed external lawyers to investigate the allegations and would cooperate with US authorities. The reported purchases and export-control concerns have added another dimension to the questions surrounding Nvidia’s business relationships in Asia.
The situation has also affected the company’s activities in South Korea. Reuters reported that Huang’s daughter, Madison Huang, who is an Nvidia executive, cancelled scheduled meetings in the country. However, Nvidia’s artificial intelligence conference in Seoul was proceeding as planned. South Korean authorities said they did not expect the controversy to affect contracted deliveries of Nvidia chips.
US President Donald Trump has publicly defended Huang, describing him as an honourable person while acknowledging that he had not discussed the allegations with the Nvidia chief executive.
“I hope everything’s fine. He’s done such an incredible job,” Trump told reporters on Sunday.
The controversy comes at a sensitive time for US-China relations. Trump is preparing for a planned visit to China for talks with President Xi Jinping, with semiconductor exports and access to advanced technology among the issues dividing the two governments.
For Nvidia, the investigation presents questions that extend beyond Huang’s personal conduct. The company occupies a central position in the global artificial intelligence industry, and its advanced chips are a major focus of US efforts to restrict China’s access to strategically important technology. Whether the allegations point to an actual security breach remains unestablished, but the board’s investigation and the scrutiny from US lawmakers place Nvidia’s corporate security procedures under considerable attention.
