Nvidia has hired New York law firm Wachtell, Lipton, Rosen & Katz to conduct an independent investigation into Chief Executive Jensen Huang's relationship with a woman alleged to be a Chinese spy. The company announced Tuesday that attorney Joon Kim, a former U.S. Attorney for New York's Southern District, will lead the probe. The FBI is conducting a separate investigation. Nvidia's share price has fallen nearly to a yearly low, with $500 billion wiped from its market value since Friday.
Jensen Huang, who co-founded Nvidia, has admitted to having a romantic relationship outside his marriage with Alice Huang, an executive at Singaporean company Megaspeed, a Nvidia customer. According to the New York Times, Secretary of State Marco Rubio sent a memo to top Washington officials in spring warning that Jensen Huang was in a close relationship with a Chinese spy. Beijing has denied the allegations, calling them intended to smear China. President Donald Trump said Monday he spoke with Jensen Huang, who told him he had no idea she was a spy, and that Trump believed him.
Congressional leaders of the House Committee on Foreign Affairs have asked Jensen Huang to appear next week for a closed-door briefing. A person familiar with the committee's demand said the Nvidia chief has not yet indicated whether he will attend. The committee has authority to subpoena him if deemed necessary.
Nvidia's board said Sunday it has no reason to believe company secrets or national security were compromised, and a committee of independent directors will oversee the investigation. Nvidia is the sole manufacturer of a crucial computer chip required for operating AI tools and is the world's second most valuable company after Apple. Its chips have become a national security matter for U.S. officials seeking to win the AI race.