Nvidia Launches Probe Into Alleged Spy Plot Targeting CEO Jensen Huang

Nvidia has initiated an independent board investigation into whether its CEO, Jensen Huang, was the target of a foreign intelligence effort. The inquiry began on Sunday after news reports detailed an alleged extramarital affair between Huang and a Chinese citizen, Alice Huang, whom U.S. intelligence agencies reportedly assessed was gathering information for Beijing. Nvidia stated in a release that the board had no reason to believe national security or company secrets had been compromised, but the probe will examine all available data. The company confirmed that Huang, 63, would remain in his role as chief executive and committed to cooperating fully with the process.

In a separate email to employees, Huang acknowledged the affair and apologized for the personal impact on his family. He described himself as deeply sorry for the hurt caused to his wife, Lori, and their two children, both of whom work for the company. Huang emphasized his commitment to protecting Nvidia and supporting U.S. national security, stating, “I love our country and our company.” Company spokesperson John Rizzo added that the news would not slow the company down, noting that Huang is committed to leading Nvidia without interruption.

Beijing has pushed back against the narrative that its intelligence services were involved. Guo Jiakun, a spokesperson for China’s Ministry of Foreign Affairs, called the allegations unsubstantiated and described them as a smear campaign against China during a routine briefing on Monday. The New York Times identified Alice Huang as a former executive at Megaspeed International, a Singapore-based data center firm that touts a partnership with Nvidia. The Times reported that Megaspeed purchased more than $4.8 billion worth of Nvidia chips over the past two years. In December, Megaspeed denied claims that it illicitly shipped advanced Nvidia chips into China, stating there was no evidence to support such assertions.

The scandal arrives at a time when Huang maintains a close relationship with President Donald Trump. Huang has dined at the White House and traveled on Air Force One during the president’s second term. Trump described Huang as smart and amazing, and he suggested on Sunday that he hoped everything was fine after the investigation was announced. The president expressed confidence in Huang’s honor and said he was still open to taking him on an upcoming trip to Asia. Trump also noted that he had not yet spoken to Huang since the news broke.

Financial markets reacted to the news on Monday. Nvidia shares fell more than 4 percent, while stocks for rival Advanced Micro Devices and AI infrastructure firm Coreweave rose. The development adds pressure to Washington’s approach toward chip exports to China. Huang has previously lobbied for looser limits on sales, securing approval in January to sell H200 chips to China. Although Nvidia has reported in regulatory filings that it has sold only a small amount of these chips to China, analysts see the scandal as a catalyst for stricter controls. Raymond James analysts wrote in a Sunday note that the high-profile nature of the allegations could make it difficult for Washington to avoid a response. They predicted the reports would bolster congressional support for legislation restricting semiconductor sales, potentially renewing trade tensions between the two nations.