Nvidia said on Sunday that its board has opened an independent investigation into reports that founder and chief executive Jensen Huang was the target of a foreign intelligence effort.
A committee of independent directors, assisted by outside independent counsel, will oversee the inquiry, the board said in a short statement published on the company newsroom.
What the board said
The board said it has no reason to believe that either United States national security or Nvidia secrets were compromised. It added that the inquiry will examine all available information.
The NVIDIA Board is initiating an independent investigation in light of recent reporting that founder and CEO Jensen Huang has been the target of a foreign intelligence effort.
The statement added that Huang fully supports the review and has committed to cooperating with it. The board also said it has confidence in Huang and his leadership team.
The reports behind the inquiry
The reports behind the inquiry concern Huang’s relationship with Alice Huang, a former executive at Megaspeed, a Singapore company that builds data centres. United States authorities investigated Alice Huang and concluded she was a Chinese intelligence asset. She is not related to Jensen Huang.
Megaspeed buys AI chips from Nvidia. United States authorities have examined the company over suspicions that it helped Beijing gain access to advanced AI chips that are barred from shipment to China. China has dismissed the claims as groundless speculation.
Huang told employees in a message on Sunday that he had been unfaithful to his wife and took full responsibility for his actions. He said he was deeply sorry and that he supports the investigation and will cooperate fully.
What happens next
Three chairs of United States House committees have asked Huang to attend a closed-door briefing on November 18. They want him to explain how he came into contact with Alice Huang and to describe Nvidia’s security procedures.
The board said it will provide further updates as appropriate. It gave no timetable for completing the inquiry. Huang remains chief executive while the work proceeds.
The inquiry opens as investors are already uneasy about the durability of AI spending. Nvidia shares have given up their gains for the year during the wider technology selloff.
