Ex-Nvidia CEO misled top lawyer on affair with Chinese businesswoman, sources say
NVDA•Former Nvidia CEO Jensen Huang described his relationship with Chinese businesswoman Alice Huang as routine customer interactions in messages to company leaders, sources said. Nvidia shares have fallen more than 30% since their October 6 closing high, erasing more than $1.8 trillion in market value.
1. Messages to leaders
Former Nvidia CEO Jensen Huang told General Counsel Tim Teter, Chief Marketing Officer Alison Wagonfeld and other leaders that his interactions with Chinese businesswoman Alice Huang reflected standard customer dealings, sources said. Internal messages reviewed by Reuters show Huang made the statements in October, after press queries drew leaders’ attention to the relationship.
2. Board investigation
Nvidia’s independent directors said on November 10 they had hired Wachtell, Lipton, Rosen & Katz to conduct an independent investigation after reports about Huang’s relationship with Alice Huang and US authorities’ suspicions that she was spying for China. Beijing has denied she is a spy, and Reuters has not independently verified whether she was working for the Chinese government.
3. Market context
Huang discussed potential legal action against the New York Times over its reporting, sources said, but neither he nor Nvidia filed a lawsuit. Nvidia shares have fallen more than 30% since their October 6 closing high, erasing more than $1.8 trillion in market capitalization.
