Former Nvidia CEO Jensen Huang has been summoned to testify before a US Senate committee next month regarding his alleged affair with a woman suspected of being a Chinese spy. This development comes after Huang abruptly quit as head of Nvidia, one of the world's most valuable companies, following revelations of alleged extramarital affairs. The scandal has sent shockwaves through Silicon Valley and resulted in a significant loss of stock market value for Nvidia.
Jensen Huang has been asked to appear voluntarily on December 3 before the Senate Banking Committee, but the panel may issue a subpoena if he fails to comply. Senator Tim Scott of South Carolina, who sent the letter requesting Huang's testimony, expressed concerns about national security and the protection of sensitive US technology. He stated that the American people deserve answers regarding recent reports that raise serious concerns about these issues.
In addition to Huang, Commerce Secretary Howard Lutnick has also been summoned to appear before the Senate Banking Committee in December. Lutnick is under scrutiny due to allegations that he stalled efforts to tighten export restrictions on advanced AI chips to China. A commerce department spokesperson confirmed that Lutnick had "proactively" agreed to testify before the committee.
Jensen Huang admitted to being "unfaithful" to his wife after reports emerged of an affair with Alice Huang, a suspected Chinese spy who worked as an executive at the Singaporean firm Megaspeed. On Wednesday, Huang was reported to have had a second relationship with an Nvidia executive, Kimberly Powell. The US Attorney General stated that the Department of Justice had not yet drawn any conclusions about whether Alice Huang was engaged in espionage for Beijing.
Nvidia officials have repeatedly declined to comment on the situation since Wednesday. A personal representative of Huang also declined to comment on Thursday. According to US media, Huang's alleged second affair was with a long-time Nvidia executive who reported directly to him within the company. Sources have told the BBC that Nvidia employees had noticed the pair were unusually close.
The scandal has had significant repercussions for Nvidia, with the company's stock market value dropping by $550 billion in just five days. This is the most significant five-day drop the company has seen since going public 27 years ago. Nvidia's market value had risen by more than 470% in the past five years, peaking just a few weeks ago, but it is now down by 31% against a backdrop of wider uncertainty in the tech sector.
Nvidia is currently hunting a permanent replacement for Jensen Huang, who had been the company's public face since 1993. Chief Financial Officer Colette Kress was named as interim CEO on Thursday. Several tech insiders noted that Huang's downfall has been a major topic of conversation in San Francisco Bay area circles, an area filled with tech employees, industry executives, and billionaires.
Key points
- Jensen Huang faces Senate committee testimony over alleged affair with suspected Chinese spy
- Commerce Secretary Howard Lutnick also summoned to testify before Senate Banking Committee
- Nvidia's stock market value drops by $550 billion in five days amid scandal
