Nvidia has hired one of the largest law firms in the United States to conduct an independent investigation into the relationship between CEO Jensen Huang and a woman alleged to be a Chinese spy. The company said Tuesday that Wachtell, Lipton, Rosen & Katz will handle the inquiry, with attorney Joon Kim leading what Nvidia described as “a thorough and independent investigation.” The FBI is conducting a separate probe.
Jensen Huang, who co-founded Nvidia, has acknowledged a romantic relationship outside his marriage. The woman, Alice Huang, also known as Huang Le, is alleged to be a spy for Beijing. She is not related to Jensen Huang. The disclosure has weighed heavily on Nvidia’s stock: its share price has fallen almost to a yearly low, with $500bn (£375bn) wiped from its market value since Friday.
Nvidia is central to the AI boom as the sole manufacturer of a computer chip used in AI tools. It is the world’s second most valuable company after Apple, and its chips have become a matter of national security for US officials seeking to win the AI race.
Alice Huang was an executive at Megaspeed, a Singaporean company that has been an Nvidia customer. Megaspeed had been suspected of helping divert Nvidia chips to China, a concern Nvidia has said was investigated and debunked. Nvidia has also maintained that the US government did not inform it that Megaspeed posed an intelligence concern.
Political scrutiny intensifies
The relationship has drawn increasing political attention. Secretary of State Marco Rubio sent a memo to top officials in Washington earlier this year warning that Jensen Huang was in a close relationship with a Chinese spy. Beijing has rejected the claims. China’s foreign ministry said the allegations were “intended to smear and malign China.”
President Donald Trump said Monday that he had spoken with Jensen Huang, who told him he had “no idea she was a spy.” Trump said he believed him.
Leaders of the House Committee on Foreign Affairs have asked Jensen Huang to appear next week for a closed-door briefing. The Nvidia chief has not said whether he will attend, a person familiar with the committee’s demand said. The committee has the authority to subpoena Huang, effectively forcing him to appear if it deems necessary.
When Nvidia announced on Sunday that it would investigate the affair, its board said it had no reason to believe that company secrets or national security had been compromised. The board added that a committee of independent directors would oversee the investigation.
Law firm and lead attorney
Wachtell is one of the largest law firms in the US and counts OpenAI and Salesforce among its notable technology clients. Joon Kim is a former US Attorney for the Southern District of New York and spent several years as a government attorney focusing on fraud and other criminal acts.
People familiar with the matter expect the Nvidia investigation to be treated as urgent because Jensen Huang’s public image is tightly intertwined with the company. He has become a key public figure in the development of AI, arguing that the technology represents a “new industrial revolution” on par with the advent of electricity.
It is unclear whether Wachtell will be able to interview Alice Huang. An Nvidia spokesperson declined to comment Tuesday when asked whether Jensen Huang had retained his own legal representation amid the company investigation and the separate FBI probe.