Nvidia’s board has launched an independent investigation into chief executive Jensen Huang after reports that he may have been targeted in a foreign intelligence effort, according to Euronews. The Jensen Huang investigation comes as Nvidia’s stock fell 4.51% ahead of the US market open.
According to Euronews, a committee of independent directors, assisted by outside independent counsel, will oversee the review. Nvidia said the board has no reason to believe national security or Nvidia secrets were compromised, but the inquiry will examine all available information.
Nvidia said Huang fully supports the review and has committed to cooperating with it. The company also said the board has confidence in him and his leadership team.
China denied on Monday that there was a spy plot to ensnare the Nvidia CEO, Euronews reported. Beijing called the spying allegations unsubstantiated and a smear campaign against it.
Axios reported that Huang admitted on Sunday to an affair with a suspected Chinese spy. Axios also reported that President Trump stood by Huang on Sunday evening. The excerpt available to this outlet cuts off Trump’s remarks, so their full wording is not confirmed. Axios puts Nvidia’s valuation at $4.5 trillion.
Nvidia’s statement does not address the reported affair. The sources do not identify the alleged intelligence operative or the agency involved, and Huang has not responded to the admission report in the material reviewed.
Context on Huang’s position is limited. AJ Bell’s Dan Coatsworth said Huang’s situation sits at "highest risk" and that he could step aside temporarily, step down, or be removed. Coatsworth also noted the board might want to keep him as the architect of Nvidia’s success. The Hindu reports that Nvidia makes the GPU chips central to AI data centres, and that Chinese companies have found it harder to access them since 2022, as Washington tightened controls on advanced chips. The Hindu piece does not mention the investigation or the affair.
The key account of the board probe rests on Euronews, and the affair report rests on Axios, which was available only as a headline and short excerpt. No independent confirmation of the affair or the alleged spy has been reported.
Nvidia says the board will provide further updates as appropriate. No timeline has been given for the investigation or its findings.
Sources
This article was written with AI assistance from the published reporting listed above. It is part of the World Brief daily news podcast.