Nvidia’s board of directors has opened an independent investigation into founder and chief executive Jensen Huang. The move follows allegations of foreign intelligence targeting. Huang, in a message to employees, acknowledged that he had been unfaithful to his wife. He remains in his post.
The allegations and the board’s response
The allegations originate from a New York Times article published in late October, which was summarised by The Block. The article cited a spring note alleging that China’s Ministry of State Security recruited a Chinese businesswoman close to Huang to gather information on him. No authority has confirmed this, and Nvidia does not endorse it.
The board said it had no reason to believe national security or Nvidia secrets were compromised. It expressed confidence in Huang. The investigation is overseen by an independent board committee with an outside law firm. No names or timetable were given.
Huang’s message and the market reaction
In his message, Huang wrote: “I was unfaithful to my wife. There is no excuse for what I did.” He added that leading Nvidia was the privilege of his life. A spokesperson said he intends to continue leading the company without interruption.
Nvidia’s perpetual NVDA contract on Hyperliquid fell 3.8 percent over 24 hours while Wall Street was closed. Roughly 170 million dollars changed hands in that contract over the period. Rick Maeda, head of markets at Laevitas, said these contracts were the only place where a price could form. The contract touched 178.10 dollars on Sunday, against Nvidia’s 186.64 dollar close on Nasdaq on Friday.
What comes next
Nvidia is scheduled to report quarterly results on 17 November. Republican House committee chairs have asked to hear Huang in closed session on 18 November. Polymarket gave a 16 percent probability that Huang leaves his post by 31 December.
Related: Nvidia-linked futures fall as board probes Huang espionage claim
Source: Nvidia
