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Jensen Huang, co-founder, president and CEO of U.S. semiconductor giant Nvidia, attends a press briefing in Paris, France, on Oct. 13, 2026. Nvidia's board announced on Nov. 8 that it had launched an independent investigation after Huang acknowledged having an extramarital affair with a woman whom U.S. officials believe was working for Chinese intelligence. /AFP-Yonhap

[Article summary]

1. Nvidia CEO Jensen Huang, 63, admitted to having an extramarital affair with a woman suspected of working for Chinese intelligence and apologized to his family and employees.

2. Nvidia's board launched an independent investigation into allegations that Huang had been targeted by a foreign intelligence operation, while stressing that it had no reason to believe U.S. national security or company secrets had been compromised.

3. Republican House committee chairs have called on Huang to appear before Congress, while Democratic lawmakers have also signaled plans to investigate, bringing Nvidia's semiconductor exports to China into the congressional spotlight.

Nvidia's board of directors launched an independent investigation Sunday after CEO Jensen Huang, 63, acknowledged having an extramarital affair with a businesswoman suspected of working for Chinese intelligence.

The board said it had no reason to believe that U.S. national security or company secrets had been compromised, but would review all available information through an investigation overseen by independent directors with the assistance of outside legal counsel.

Nvidia's semiconductor exports to China have also emerged as an issue in Congress, with Republican House committee chairs requesting Huang's appearance and Democratic lawmakers signaling plans for further scrutiny.

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U.S. House Speaker Mike Johnson (fifth from left, back row), Commerce Secretary Howard Lutnick (second from left, back row), Meta CEO Mark Zuckerberg (front row, left), SpaceX and xAI founder and CEO Elon Musk (second from right, front row), Nvidia President and CEO Jensen Huang (second from left, front row), OpenAI President Greg Brockman (fourth from left, back row), Google CEO Sundar Pichai (front row, right), AMD CEO Lisa Su (fourth from right, back row) and other technology executives attend a luncheon hosted by President Donald Trump (front row, center) in the East Room of the White House in Washington, D.C., on Sept. 29, 2026. /Reuters-Yonhap

Nvidia board launches independent probe into suspected foreign intelligence operation

Nvidia's board of directors announced that a committee of independent directors, assisted by outside legal counsel, would review all relevant information following reports that CEO Jensen Huang had been targeted by a foreign intelligence operation.

The board emphasized that U.S. national and economic security were its highest priorities, but said it had "no reason to believe that either national security or NVIDIA secrets were compromised." It also expressed confidence in Huang and his leadership team. 

In a message to employees, Huang apologized, saying, "I was unfaithful to my wife. My actions hurt her and our children. There is no excuse for what I did."

Huang pledged to cooperate fully with the investigation. He also expressed his love for the United States and Nvidia, reaffirming his commitment to protecting the company and supporting U.S. national security. He asked that his family's privacy be respected. 

Huang will continue serving as CEO during the investigation. "Jensen is committed to continuing to lead NVIDIA as CEO without interruption," Nvidia spokesperson John Rizzo said, according to U.S. news outlet Axios. 

Rubio oversaw classified memo on allegations of Chinese intelligence recruitment

Huang's admission of infidelity marks a departure from his earlier explanation that his relationship with Alice Huang, also known by her Chinese name Huang Le, a former executive at Singapore-based data center company Megaspeed, was "entirely normal and not unusual."

In an interview with Bloomberg last month, Huang said his interactions with Alice Huang were related to Megaspeed's business. Nvidia also said Huang met thousands of executives from customer companies each year. However, The New York Times (NYT) noted that his admission had undermined those earlier explanations.

According to the NYT, U.S. authorities electronically monitored Alice Huang, a Chinese national, for more than a year while investigating whether Megaspeed had been involved in smuggling semiconductors into China. Investigators identified Huang as the U.S. citizen with whom she had been communicating. The newspaper reported that the surveillance also revealed that Alice Huang had passed information directly to Chinese authorities.

U.S. Secretary of State Marco Rubio oversaw the preparation of a highly classified intelligence memorandum this spring alleging that Alice Huang had been recruited by China's Ministry of State Security (MSS) to target Nvidia's CEO. The memorandum was circulated among senior officials shortly before President Trump's visit to China in May.

The NYT also reported that Trump had been briefed on the electronic surveillance about a year earlier but took no action at the time.

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U.S. President Donald Trump (left) shakes hands with Nvidia CEO Jensen Huang, also known by his Chinese name Huang Renxun, during an "Invest in America" event at the White House in Washington, D.C., on April 30, 2025. /Reuters-Yonhap

Megaspeed purchased billions of dollars in Nvidia chips 

Megaspeed was spun off from the Singapore subsidiary of a Chinese online gaming company in 2023. Alice Huang was registered as an executive director when the company was founded and later described herself as its CEO.

The New York Times (NYT) reported that Megaspeed's Malaysian affiliate purchased at least $4.8 billion (approximately 6.5472 trillion won) worth of advanced AI equipment incorporating Nvidia chips and related technologies between June 2024 and February 2026.

The U.S. Department of Commerce has been investigating since 2024 whether Megaspeed was involved in smuggling Nvidia's advanced artificial intelligence (AI) chips into China. Nvidia maintains that its internal review found no evidence of illegal activity.

The Wall Street Journal (WSJ) reported that officials in Singapore and Taiwan had been monitoring allegations of Alice Huang's links to Chinese intelligence agencies. However, Singapore's Ministry of Home Affairs said it had never investigated her over those allegations.

According to the WSJ, Alice Huang traveled to China in late 2024 and remained there for some time. Her current whereabouts and position at Megaspeed remain unknown. Megaspeed, meanwhile, maintains that it complies with applicable laws and regulations.

Three Republican House committee chairs seek Huang's testimony

Huang has been asked to attend a joint, closed-door briefing by three Republican House committee chairs: Brian Mast, chairman of the House Foreign Affairs Committee; John Moolenaar, chairman of the House Select Committee on the Strategic Competition Between the United States and the Chinese Communist Party; and Rick Crawford, chairman of the House Intelligence Committee.

In a letter dated Nov. 4, the lawmakers emphasized the need to determine the national security risks arising from China's potential access to sensitive U.S. technology and information. 

Democratic Senator Chris Coons criticized the Trump administration's ties to Chinese spies and AI billionaires in a post on X, formerly Twitter, and said Congress would investigate to uncover the truth. Senator Elizabeth Warren, also a Democrat, called on Huang and Nvidia's board of directors to provide explanations to Congress.

Bloomberg reported that if Democrats secure majorities in both chambers of Congress when the new session begins on Jan. 3 next year, pressure for documents and testimony concerning semiconductor exports to China is likely to intensify.

The WSJ reported that Coons was being mentioned as a potential chairman of the Senate Foreign Relations Committee, while Bloomberg identified Warren as a possible chair of the Senate Banking Committee.

According to the WSJ, Huang frequently speaks with Trump by phone about AI and China policy. Although initially excluded from the list of business executives accompanying Trump on his visit to China in May, Huang reportedly joined the president aboard Air Force One during a stopover in Alaska at Trump's request.

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Nvidia's DSX POD is displayed at Hon Hai Tech Day, Foxconn's annual technology event, in Taipei, Taiwan, on Oct. 30, 2026. /Reuters-Yonhap

Democrats seek oversight of H200 chip sales to China and export controls 

The Trump administration authorized sales of Nvidia's H200 chips to China in late 2025, but actual sales fell short of the quantities approved by the United States because of opposition from Chinese authorities, Bloomberg reported. The H200 is two generations behind Nvidia's latest Rubin family of chips.

Representative Gregory Meeks, the top Democrat on the House Foreign Affairs Committee, criticized Huang's lobbying efforts targeting President Donald Trump and demanded documents related to export licenses.

The New York Times (NYT) reported that the Beijing headquarters of New Matrix, a Chinese company approved to handle H200 chips, was empty. The company's beneficial owners were linked to a private equity fund on the U.S. export control blacklist and its founder, Li Bin. 

According to Bloomberg, Congress is considering three bipartisan bills aimed at restricting exports of semiconductor manufacturing equipment to China, codifying controls on AI chip exports and verifying the locations of exported semiconductors.

One of the bills, the AI Overwatch Act, would maintain export restrictions for 18 months and limit China's access to products that are at least two generations behind the most advanced U.S. technology.

Nvidia has begun requiring customers in Southeast Asia to register with its Fleet Intelligence system, which includes location-tracking capabilities, to qualify as Nvidia Cloud Partners (NCPs). However, the company does not require customers by default to share their location data with Nvidia or the U.S. government.

Nvidia's market value falls from nearly $5.8 trillion in October to around $4.5 trillion

According to Bloomberg, Nvidia's market capitalization approached $5.8 trillion (approximately 7,911.2 trillion won) in October but subsequently fell below $5 trillion (approximately 6,820 trillion won) amid concerns about the sustainability of AI infrastructure investment.

Reuters reported that the company's market capitalization had declined to around $4.5 trillion (approximately 6,138 trillion won), with its shares giving up all their gains for the year.

During the technology stock sell-off on Nov. 5, following the Nov. 3 midterm elections, the Nasdaq-100 index plunged 6.4%, while Nvidia shares fell more than 9%. The decline wiped $15.1 billion (approximately 20.5964 trillion won) off Huang's net worth and pushed him from ninth to 13th place on the global billionaires ranking, Bloomberg reported.

Bloomberg said the controversy had raised questions about Huang's future, noting that Nvidia has no publicly disclosed succession plan or clear successor. The NYT also highlighted the company's management structure, under which approximately 60 executives report directly to Huang.

"I would be surprised if the new Congress did not put pressure on Nvidia and Jensen," Marsha Winchell, an emerging technology fellow at the U.S. think tank Institute for Progress, told Bloomberg.

"Democrats may question whether Nvidia knowingly turned a blind eye to smuggling," she added.

                                                                                                              Ha Man-joo