Ousted Nvidia CEO Jensen Huang has agreed to answer questions from Congress regarding an extramarital relationship with a suspected Chinese intelligence asset, House Foreign Affairs Committee Chairman Brian Mast said on Thursday.
Mast told reporters that Huang’s team confirmed his planned appearance after Mast and two other Republican committee chairmen threatened him with a subpoena. The behind-closed-doors interview is expected to take place before Congress breaks for Thanksgiving recess, according to the New York Post.
Huang Exits After Board Scrutiny
Huang resigned early Thursday after 33 years leading the chipmaking giant he co-founded in 1993, ABC News reported. Nvidia’s board met Wednesday night to evaluate his future following disclosures that he had an extramarital relationship with Alice Huang, a Chinese businesswoman linked to the Singapore-based datacenter company Megaspeed. United States intelligence officials suspect Alice Huang worked for Chinese intelligence, NBC News reported. China has dismissed the espionage allegations.
Following Slate reports detailing a second relationship with an Nvidia direct report, the board appointed Chief Financial Officer Colette Kress as interim CEO. Fortune said Huang’s personal wealth fell by $6.5 billion the day after he confirmed the unfaithfulness, bringing his net worth to $145 billion.
In an email sent to Nvidia staff on Sunday, Huang admitted that he had been unfaithful to his wife. On Wednesday night, Nvidia’s board met to address his future at the organization following weeks of escalating controversies.
Analysts from Citi observed that if Huang were forced out, it would end an era for the business he guided to a valuation surpassing $4 trillion. Stephen Witt, author of the biography “The Thinking Machine,” said Huang operated as a leader who marched to the beat of his own drum and did not brook much disagreement.
I'm not interested in the salacious details of NVIDIA CEO Jensen Huang's private life. I'm very interested in the national security threat posed by his push to export advanced AI chips to China, and why Trump ignored it. pic.twitter.com/h1U4oE5JcY
The sudden leadership transition triggered intense volatility across financial markets. Nvidia shares sank more than 8% in premarket trading on Thursday morning, extending a selloff that erased over $300 billion in market value since Monday morning. Analysts and market strategists warned that uncertainty regarding the semiconductor giant’s leadership could continue to weigh on technology sector valuations.
Lawmakers Question Export Controls
Republicans have directed scrutiny toward Commerce Secretary Howard Lutnick because his department never placed Megaspeed on its Entity List, which restricts companies from receiving sensitive American technology without a license. The New York Post reported that Commerce handed its Megaspeed probe over to the Justice Department late last year after Nvidia’s general counsel contacted investigators for an update.
Lawmakers from both parties have questioned the administration’s handling of chip exports. “Secretary Lutnick needs to answer that in front of God and our country,” said Sen. John Kennedy.
President Donald Trump downplayed the leadership shakeup during a White House briefing. Trump described Huang as someone who had done a fantastic job. He said he would be willing to bring Huang along on future presidential trips to Beijing. At the same time, top congressional Democrats urged the administration to preserve all records related to the ongoing investigations.
Former Nvidia CEO Jensen Huang allegedly had a third affair, according to a report from Reuters. All three of his alleged affairs exposed so far this week have been with a suspected Chinese spy, an executive, and another employee at the company. (https://t.co/rtxXpOj8xE) pic.twitter.com/GHky1bp40j
Earlier coverage: What to Know About the Turmoil at Nvidia as Jensen Huang Resigns as CEO
NYT says Jensen Huang had a relationship Nvidia's vice president of health care. https://t.co/restNfM7wJ
More on Jensen Huang
The New York Times reports Jensen Huang allegedly had another affair, this time with $NVDA VP of Healthcare Kimberly Powell citing five people who worked at the company. The two were reportedly seen being affectionate at a hotel during Nvidia's March conference. pic.twitter.com/JrvMc302Xd