Nvidia is opening an independent investigation into whether its own billionaire CEO Jensen Huang was the “target of a foreign intelligence effort,” the company said in a statement on Sunday, after Huang told employees at the company he had an affair.
Key Takeaways
- In a statement to Nvidia staff on Sunday, Huang said he was “unfaithful to my wife” and apologized for his actions, days after the New York Times reported he had a close relationship with Alice Huang, a Chinese citizen who U.S. officials believe is a foreign intelligence asset.
- In a separate statement, Nvidia’s board of directors said it was probing whether or not Huang was targeted by intelligence efforts, but said it currently has “no reason to believe national security or Nvidia secrets were compromised.”
- In his statement to employees, Huang said he supported the investigation and would cooperate with the probe, insisting, “I love our country and our company,” and, “I am committed to protecting Nvidia and supporting America’s national security.”
- Huang also apologized to employees, telling them he was “fully committed to Nvidia and will work to earn back your confidence.”
- “Today’s news will not slow Nvidia,” company spokesperson Chris Martin told Forbes in a statement, noting, “Jensen is committed to continuing to lead Nvidia as CEO without interruption.”
Key Background
Alice Huang was an executive at Megaspeed, a Singapore-based data center company that purchased chips from Nvidia that was previously under suspicion for helping to smuggle advanced AI chips into China.
It is unclear what Alice Huang’s role at the company is. Nvidia had previously described her relationship with Jensen Huang as “not unusual or unexpected.” However, Alice Huang was also named in a classified memo as a possible recruit by China’s Ministry of State Security.
The memo, which was drafted under the supervision of Secretary of State Marco Rubio, the New York Times reported on Sunday, warned that Alice Huang was under investigation for smuggling advanced Nvidia chips into China despite U.S. restrictions.
President Donald Trump was reportedly warned about Jensen Huang’s relationship with the alleged spy, but it is unclear why the administration did not immediately act on the information.
Forbes Valuation
We estimate Jensen Huang’s net worth at $162.2 billion, making him the eighth-wealthiest person in the world as of Sunday. Most of Huang’s wealth comes from his roughly 3.5% stake in Nvidia, the graphics card manufacturer he co-founded currently has an estimated $4.5 trillion market cap.
This is a breaking story and will be updated.
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