The fallout from Nvidia CEO Jensen Huang’s admission of an affair continues.
On Monday, shares of Nvidia fell roughly 5% a day after Nvidia’s board said it was investigating reports that Huang was the target of a Chinese spy campaign.
The woman at the center of the allegations is Alice Huang, who has been an executive for Megaspeed, an Nvidia customer. The New York Times reported in late October that US intelligence officials believe Alice Huang, who developed a close relationship with the Nvidia CEO, was passing information to Beijing.
Several news outlets, including Business Insider, have since reported on other major developments.
Here are the highlights:
• The Commerce Department stopped an investigation into Megaspeed after receiving an email from Nvidia’s general counsel asking about the monthslong probe, The New York Times reported. The case was abruptly transferred to the Justice Department, the outlet reported.
• In early 2025, Alice Huang and a business partner were pitching China-based investors on a Southeast Asia data center project “worth several hundred million dollars,” The Financial Times reported. The pair told investors they would have “no problem securing GPUs,” one investor who was present for the pitch told the publication.
• The Nvidia CEO started working with Heller, a PR firm known for guiding leaders through sex scandals, as early as October 2025, Wired reported. Risa Heller, the crisis communications specialist who founded the firm, has previously worked with the likes of former Rep. Anthony Weiner and chef Mario Batali. Wired noted that Heller also handles corporate communications that are unrelated to scandals.
• Jensen Huang is no longer expected to appear at Anthropic’s CEO forum on Monday, and his name disappeared — and then reappeared — from the speaker lineup for ElevenLabs’ conference on Wednesday, Business Insider’s Henry Chandonnet and Geoff Weiss reported.
• Similarly, Madison Huang, Jensen’s daughter and a senior Nvidia executive, abruptly dropped out of an AI-focused event in Seoul, Bloomberg reported.
