Nvidia CEO Jensen Huang admitted Sunday that he had an extramarital affair with a woman U.S. intelligence officials reportedly believe was working as a spy for China, prompting the multitrillion-dollar chipmaker’s board to launch an independent investigation.
In a memo to Nvidia employees, Huang apologized to his family and to the company.
“I was unfaithful to my wife,” Huang wrote, adding that his actions hurt her and their children and that there was no excuse for what he did.
Huang, who has been married to his wife, Lori, for 41 years, did not name the woman in the memo. But multiple reports have identified her as Alice Huang, a former executive at Singapore-based Megaspeed. The two are not related.
Megaspeed is an Nvidia customer that has been accused of helping restricted Chinese companies obtain the company’s advanced artificial intelligence chips.
The New York Times reported on Oct. 29 that the two had a close relationship. The paper later reported that Secretary of State Marco Rubio warned top Trump administration officials about the relationship. A memo circulating among U.S. policymakers earlier this year claimed Alice Huang had been recruited by China’s Ministry of State Security to target Nvidia’s CEO, and the Times reported she was tasked with seeking information and potentially pushing for Nvidia’s advanced chips to be made available in China despite existing restrictions.
Nvidia initially dismissed the reports, saying the pair’s interactions were not unusual and that the company does not share classified information with customers.
In Sunday’s memo, Huang said Nvidia’s board had launched an independent investigation into the national security concerns raised in the reports and that he loves the country and is committed to supporting America’s national security.
The board said a committee of independent directors, assisted by outside counsel, will lead the review. It said U.S. national and economic security is paramount, that Huang fully supports the investigation and that it has confidence in him and his leadership team.
An Nvidia spokesman said the news would not slow the company and that Huang plans to continue leading Nvidia without interruption.
Investors were less confident. Nvidia shares dropped 7.3% Monday morning after the investigation was announced.
China’s Foreign Ministry pushed back, with spokesman Guo Jiakun calling the spy allegations unsubstantiated. No criminal charges against either Jensen Huang or Alice Huang have been reported.
The scandal raises serious national security questions surrounding one of the world’s most powerful tech executives. Huang has been an outspoken advocate for loosening restrictions on selling advanced AI chips to China, arguing that keeping American technology in the Chinese market strengthens the United States.
Lawmakers are already demanding answers, with some saying Huang and Nvidia’s board owe Congress an explanation.
