Admits to Extramarital Affair and Apologizes
Nvidia CEO Jensen Huang sent a letter to internal employees on November 8, admitting he was unfaithful to his wife and stating he will fully cooperate with the board's investigation. In the letter, he said: "My actions hurt her (my wife) and our children. I have no excuses, and I am very sorry."
To colleagues, the board, and partners, Jensen Huang said: "My responsibility is to serve you and to be worthy of your trust. I have failed in that responsibility. I serve Nvidia with all my heart, and I will work hard to earn back your trust."
Board Launches Independent Investigation
Nvidia issued a public statement on the same day, saying it is investigating whether Jensen Huang was targeted for infiltration by foreign spies. The statement said: "Nvidia's board of directors is conducting a preliminary independent investigation into recent reports that founder and CEO Jensen Huang was targeted for infiltration by foreign spies. An independent committee assisted by outside independent advisors will be responsible for the investigation."
Nvidia also said the board currently has no reason to believe Nvidia's corporate secrets or U.S. national security have been affected by this matter, but it will still comprehensively gather all information for review. The statement also said Jensen Huang has stated he will fully cooperate with the investigation.
Foreign Media Revelations and Market Concerns
The New York Times reported exclusively late last month that Jensen Huang was deliberately approached by a Chinese businesswoman named Huang Le, who sought to obtain intelligence related to advanced AI chips from him. The newspaper further reported on November 6 that the businesswoman works for China's Ministry of State Security, with the mission of collecting intelligence on Jensen Huang. The U.K.'s Financial Times further reported on November 7 that the U.S. government believes Jensen Huang and Huang Le had an extramarital affair. According to photos and captions related to a gathering at a bar in Taipei in June 2024, the woman beside him is said to be Huang Le, a senior executive at Singapore's Megaspeed.
Ives, a technology analyst at private investment fund Yorkville Ives, said the controversy surrounding Jensen Huang could well hit Nvidia's stock hard. He said: "The risk of removing Jensen Huang as CEO based on the board's investigation is quite clear, and that would pose a risk to the stock, because he is very important to all of Nvidia and its global strategy. This is absolutely a major disgrace for Jensen Huang, and it will invite multiple congressional investigations, putting pressure on the share price."