Nvidia CEO Jensen Huang: Trump Says FBI Is Looking Into Affair
US President Donald Trump said the FBI is looking into Nvidia CEO Jensen Huang's affair with a Chinese businesswoman alleged to be a spy. Nvidia shares closed down more than 4% on Monday, and shareholders have filed a proposed class action.
US President Donald Trump said on Monday, November 9, that the FBI is looking into Nvidia CEO Jensen Huang's affair with a Chinese businesswoman alleged to be a spy for Beijing. Nvidia shares closed down more than 4% the same day.
Trump said he "was amazed" by the allegations. He said Huang told him he had no idea the woman was a spy.
"I know the FBI is looking into it," Trump said. "I think that he'll be in good shape."
Board investigation
Nvidia's board announced the internal investigation on Sunday. It is examining whether Huang was targeted by a foreign intelligence effort. The company said the board has confidence in him.
Huang, 63, told employees he had been unfaithful to his wife but gave no details of the relationship. Shares hit a seven-month low on Wall Street on Monday, according to one report.
A report last month said Huang had a relationship with Alice Huang, an unrelated former executive of Singapore-based Megaspeed. US authorities investigated her and concluded she was a Chinese intelligence asset, the report said. Megaspeed did not immediately respond to a request for comment.
Shareholders sue
Nvidia shareholders sued Huang and the company on Monday in a proposed class action. They accuse both of defrauding investors by concealing Huang's ties to a suspected Chinese spy.
Huang owns roughly 3.6% of Nvidia, making him its fifth-largest shareholder, according to LSEG data. Nvidia has no dual-class shares that would give him majority voting control.
Bernstein analyst Stacy Rasgon said Huang is central to the company. "Nvidia is not an ordinary company and Jensen is not an ordinary CEO; he is Nvidia," he said. Analysts acknowledged uncertainty over succession, but most do not expect the probe to force Huang out.
Washington and Beijing react
The relationship between Trump and Huang is under fresh scrutiny. The president awarded Huang the nation's highest honor for scientific achievement in October. The same day, Trump disclosed buying up to $1.6 million and selling up to $1 million of Nvidia shares during the summer.
The report on the affair also said Trump was briefed on the relationship and chose not to act. Neither the White House nor Nvidia immediately commented on the relationship, according to a request for comment.
China rejected the allegations. "The so-called Chinese spy narrative is purely a groundless accusation, slander, and a smear," Foreign Ministry spokesperson Guo Jiakun told reporters in Beijing.
House Democratic leader Hakeem Jeffries said Congress needs more answers. He called on the House to pass an annual defense bill that includes restrictions on chip sales to China. Lawmakers and advocates said Huang's case makes tighter limits on China's access to AI chips more likely to pass.
