Internal investigation into admitted infidelity by CEO Jensen Huang has impacted the share price of the world's largest company in premarket trading
Nvidia’s board has opened an independent investigation after CEO Jensen Huang admitted an affair with an alleged Chinese intelligence operative
Nvidia shares fell approximately five per cent in premarket trading on Monday, November 9, 2026, after the chip giant’s board launched an independent investigation into chief executive officer Jensen Huang’s relationship with a woman U.S. intelligence agencies allege is a spy for China’s Ministry of State Security.
Huang, 63, disclosed in an internal staff memo on Sunday that he had an affair with Alice Huang — also known as Huang Le — a senior executive at Singapore-based semiconductor customer Megaspeed International. The New York Times and the Financial Times reported in late October 2026 that U.S. intelligence officials had concluded Alice Huang was recruited by China’s Ministry of State Security and tasked with gathering information from Nvidia’s chief executive while also pushing for broader Chinese access to the company’s advanced AI chips.
The company’s board said in a statement it was opening the inquiry “in light of recent reporting that founder and CEO Jensen Huang has been the target of a foreign intelligence effort.” A committee of independent directors working with outside legal counsel will oversee the review. The board said it has “no reason to believe that either national security or NVIDIA secrets were compromised,” and that Huang has agreed to co-operate fully and will remain in his role.
CEO admits affair and backs investigation
In the internal memo, Huang said: “I take full responsibility for what I did and the hurt I caused, and I accept the criticism that comes with it.”
Dan Ives, partner and senior managing director at Yorkville Ives & Co. in New York, described the development as a “black eye moment for Jensen” and said the board’s investigation would create an overhang on Nvidia’s share price as investors weigh whether Huang will remain at the helm of the company he co-founded. CNBC sources indicated Huang could take a leave of absence if the investigation interferes with his ability to lead.
China’s Foreign Ministry spokesperson Guo Jiakun dismissed the allegations on Monday, saying the “so-called Chinese spy narrative is completely unsubstantiated.”
Megaspeed probe and chip export concerns
Megaspeed International, described in prior reports as the largest buyer of Nvidia chips in Southeast Asia, has been under investigation by U.S. authorities since 2024 over its alleged role in routing Nvidia’s advanced hardware into China in circumvention of U.S. export controls. Singapore’s Ministry of Home Affairs has stated it has not conducted investigations into Alice Huang’s alleged connections to Chinese intelligence or her relationship with Jensen Huang.
Alice Huang and Megaspeed International did not respond to requests for comment from media outlets at the time of reporting.
