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Nvidia CEO Jensen Huang arrives at the Great Hall of the People in Beijing, China, on May 14, 2026, to attend a state banquet hosted by Chinese President Xi Jinping for U.S. President Donald Trump. /AFP-Yonhap

Nvidia shareholders have filed a class-action lawsuit against CEO Jensen Huang, alleging that his failure to disclose his relationship with a woman suspected of spying for China caused them substantial financial losses.

According to a complaint filed Monday in the U.S. District Court for the Northern District of California, the Rosen Law Firm brought the lawsuit on behalf of investors who acquired Nvidia shares between Oct. 9, 2025, and Nov. 8, 2026.

The lawsuit seeks damages from Huang and Nvidia for alleged wrongful acts and omissions that shareholders claim contributed to a sharp decline in the company's stock price and substantial investment losses. 

The shareholders allege that Huang failed to disclose his inappropriate relationship with Alice Huang, a former executive at Singapore-based data center company Megaspeed, as well as the national security concerns surrounding the matter that allegedly threatened Nvidia's reputation and business prospects.

The controversy erupted after The New York Times reported that U.S. intelligence authorities had concluded that Alice Huang, who had developed a close relationship with the Nvidia CEO, was operating as a Chinese intelligence asset and had allegedly leaked information.

Alice Huang had reportedly publicized her ties to Jensen Huang by sharing photographs of them together on social media and had also used the relationship to attract investment.

Following the initial New York Times report, Huang dismissed concerns about his relationship with Alice Huang through a spokesperson on Oct. 29, describing their interactions as routine business dealings.

"Meetings with customers are part of a CEO's job, and Jensen talks with thousands of customer executives every year," the spokesperson said. 

However, on Nov. 8, Huang acknowledged having been unfaithful to his wife and apologized.

Nvidia shares closed at $178.67 on Nov. 9, down 4.27% from the previous session.

The decline wiped approximately $190 billion (about 260 trillion won) off the company's market capitalization that day. 

                                                                                                             Kim Hyun-min