10.11.2026 14:00
Nvidia CEO Jensen Huang is in the spotlight over an affair scandal with Alice Huang, who is alleged to have spied for China. After the allegations, Nvidia shares fell 8%, and the company's market value decreased by $335 billion.
Jensen Huang, CEO of Nvidia, one of the world's most valuable technology companies, has found himself at the center of a major scandal due to his relationship with Alice Huang, who is alleged to have spied for China. The allegations, which have raised national security concerns in the US, also had an earthquake effect on technology markets. As Nvidia shares fell 8 percent and $335 billion was wiped from the company's market value, concerns that Huang might leave his post alarmed global investors.
In an affair that rivals the world's greatest spy films, a woman suspected of working for Chinese intelligence is alleged to have had a relationship with the American CEO of the world's most valuable company. Moreover, it is assessed that this relationship could have consequences affecting not only Nvidia's future but also the artificial intelligence sector and the global economy.
The reason is that Nvidia is the manufacturer of chips that provide about two-thirds of the world's AI computing power. The allegations about the company CEO's private life further increased the concerns of investors worried that growth in the AI sector could come to an end.
Jensen Huang, 63, admitted to being unfaithful to his wife Lori and apologized to his family. He announced that he also fully supports the independent investigation launched by the company's board of directors.
In a message sent to his employees, Huang stated that he had hurt his wife and children and said he had no excuse for what he did. The famous CEO expressed that his family had given him love and support for years, but he had betrayed their trust.
In his apology message, Huang also said that he loves his family and hopes to regain the trust he lost over time.
Chinese spy allegation alarms US
It was claimed that US Secretary of State Marco Rubio warned that Alice Huang, said to be in her late 30s, was a spy recruited by China's Ministry of State Security.
According to the allegations, Alice Huang gathered information about US AI chips and encouraged the Nvidia CEO to lobby for the easing of export restrictions on China.
Alice Huang, who works at Singapore-based company Megaspeed, is suspected of helping China access technology through the company that buys AI chips from Nvidia.
US intelligence officials assess that Megaspeed may have enabled Chinese experts to access Nvidia's advanced microchip technologies. The export of some of these chips to China is banned by the US.
Nvidia management launched an independent investigation amid concerns that the CEO may have been the victim of a 'honey trap' operation allegedly orchestrated by China.
Huang, for his part, announced that he would fully cooperate with the investigation and continue in his role until the process is completed. The famous CEO addressed investors, saying that his commitment to Nvidia continues and that he would work to regain their trust.
Billions of dollars in trade following the relationship
It was stated that Alice Huang, who is not related to the Nvidia CEO in any way, worked as a television reporter in China before starting to work at Megaspeed.
It is unknown when the two met. However, it emerged that they were filmed together at a bar in Taiwan's capital, Taipei, in 2024.
Megaspeed became one of Nvidia's largest customers after the period in which the relationship is alleged to have begun. It was reported that the company bought more than £3.6 billion worth of microchips from the US technology giant in the last two years.
The Chinese government, meanwhile, categorically denied the espionage allegations. Beijing argued that the accusations are completely baseless and aimed at smearing China.
Trump backs his close friend, Nvidia CEO
US President Donald Trump supported his close friend Jensen Huang, describing him as 'an honorable person.' However, Trump said he had not spoken with Huang about the relationship.
It was also alleged that Trump was briefed in October 2025 on intelligence information regarding Alice Huang's spying for China.
When journalists asked whether he regretted not taking action in line with the intelligence obtained at the time, Trump said he thought Huang was a good person and that he might have a statement about what happened.
The fact that Trump did not take any steps despite having been aware of the allegations beforehand also raised questions among former US national security officials.
Former CIA officer and FBI special agent Tracy Walder said in a statement to US-based NewsNation that it was much more concerning that Trump allowed Huang to remain so close to him despite being aware of this information.
Scandal threatens global economy
The sharp decline in Nvidia shares also created concern for other major companies in the AI sector and global investment markets.
Technology giants such as Microsoft, Alphabet, Apple, Meta, and Broadcom have a very large share in the total market value of publicly traded companies. The shares of these companies also make up a significant portion of many investment and pension funds worldwide.
The International Monetary Fund and central banks warn that excessive investment in the AI sector could trigger a larger crisis in financial markets.
The UK Pensions Regulator also recently drew attention to the possibility that pension savings could be affected by a possible collapse in the AI sector and called on investors to assess hidden AI risks in their portfolios.
British technology companies are also closely following developments. Liz Upton, co-founder of Raspberry Pi, humorously expressed her hope that the scandal regarding the Nvidia CEO's private life would not negatively affect her own company's share prices either.
On the other hand, AI company shares had also come under pressure after losses suffered by Trump's Republican Party in the midterm elections. The possibility that Democrats will increase oversight of the AI sector and concerns that Trump's support for big technology companies may weaken further increased uncertainty in the markets.