Nvidia Board Launches Probe After CEO's Link to Chinese Spy Revealed

Shareholders of Nvidia now face a formal inquiry into the conduct of the company's chief executive. The board announced on Sunday that it is opening an independent investigation following reports that CEO Jensen Huang was targeted by a foreign intelligence effort.

The probe follows reporting by The New York Times and the Financial Times. Those outlets identified Alice Huang, a Chinese businesswoman, as the subject of U.S. intelligence surveillance. The reports state that she was recruited to spy for China’s top intelligence agency. The two Huangs are not related.

In a memo shared with employees, Jensen Huang admitted to a personal breach. “I was unfaithful to my wife,” he wrote. “My actions hurt her and our children. There is no excuse for what I did.” He added that the company’s board and shareholders “deserve better” and that he is “fully committed to NVIDIA.”

The company stated in a Sunday statement that a committee of independent directors, assisted by outside counsel, will oversee the process. Nvidia said it has “no reason to believe that either national security or NVIDIA secrets were compromised.” However, the board will examine all available information to determine the extent of the contact.

Jensen Huang, 63, serves as a prominent figure in the artificial intelligence sector. In October, President Donald Trump awarded him the National Medal of Science. Nvidia remains the world’s second-largest publicly traded company, valued at nearly $4.5 trillion as of Friday. The stock has risen more than 500% over the last five years.

Huang’s personal wealth has grown alongside the company’s market cap. His net worth has increased from approximately $25 billion at the start of 2022 to almost $160 billion. According to the Bloomberg Billionaires Index, this places him as the world’s 10th-richest person.

Congressional scrutiny intensified before the board’s announcement. On Thursday, top House Republicans requested a briefing from Huang. Rep. John Moolenaar, R-Mich., stated that the reports raise national security concerns regarding access to sensitive U.S. technology. “It is vital that Congress determines the extent to which U.S. national security has been placed at risk,” the letter to Nvidia read.

Secretary of State Marco Rubio declined to comment on the matter on Sunday. Speaking in Florida, he noted the nature of the intelligence work and the internal corporate process. A spokesperson for Nvidia told NBC News that the news will not slow the company and that Huang will continue to lead without interruption.