The powerful figures caught up in the Nvidia scandal Julianna Bragg Fri, November 13, 2026 at 2:23 PM EST 6 min read NVDA -2.34% Trade NVIDIA on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
The controversy surrounding Nvidia's former CEO Jensen Huang has spiraled into a complex, wide-ranging scandal that has swept up powerful figures in tech and politics — with potentially far-reaching consequences for those involved.
Why it matters: Nvidia became the backbone of the AI boom, and the fallout from Huang's exit could further shake investor confidence in an industry already worried about soaring spending and national security risks.
The situation is evolving rapidly as new details emerge about Huang's relationships and the potential involvement — or inaction — of Trump administration officials.
Public knowledge of Huang's affair kicked off with reporting from The New York Times, which included information on a May classified memo overseen by Secretary of State Marco Rubio about Huang's relationship with purported Chinese spy Alice Huang.
Here's what to know about the key players tied up in the Nvidia fallout:
Jensen Huang resigned as Nvidia CEO on Thursday after reports that he had two affairs, including one with Alice Huang.
Catch up quick: Even after his affair with Alice Huang was reported, President Trump and Nvidia's board stood behind him. But his standing crumbled following reports of a second affair, this time with an executive who reported directly to him.
Jensen Huang also allegedly had a third affair with another Nvidia employee, according to a Reuters report Thursday.
Nvidia's CFO Colette Kress was named interim CEO, while the search for a permanent replacement continues.
Stunning stat: Nvidia shares fell as much as 13% after news of Huang's resignation before slightly rebounding.
What we're watching: Huang has been summoned to speak in a closed-door meeting with members of the House Committee on Foreign Affairs, the House Select Committee on the Chinese Communist Party, and the House Select Committee on Intelligence.
It is unclear if Huang responded to the summons, but he was given a deadline to respond of Nov. 11. The Senate Banking Committee has also requested that he speak to them.
The FBI, Congress and Nvidia's board are conducting simultaneous investigations regarding the company, including concerns over national security, AI chip smuggling and their sale to China.
Jensen Huang's ties to Alice Huang, a former executive of Singapore-based AI computing company Megaspeed, have raised questions about whether Chinese intelligence sought access to Nvidia's technology and CEO through her.
Little is publicly known about Alice Huang, but The New York Times reported China's Ministry of State Security recruited her to gather information about Jensen Huang and influence his views about selling AI chips to Chinese firms.
The exact timeline of their relationship is unknown, but the Times said the two were acquainted in December 2023, when they went to dinner with other colleagues.
It's unclear whether Alice Huang obtained any information from Jensen Huang or what, if anything, she may have shared with Beijing.
Worth noting: Alice Huang was barred from Singapore in February 2026 after the Singapore Police Force determined she provided inaccurate information to officials and downplayed her role in Megaspeed, the country's Ministry of Home Affairs said in a statement Thursday.
Between the lines: Megaspeed was acquired by a company called Swiftdata in November 2023, and Alice Huang resigned shortly afterward.
But employees told The Wall Street Journal that Alice Huang continued leading the business after her resignation.
Megaspeed International rents out computing power from advanced Nvidia processors, giving customers the power to run AI systems without owning chips.
The company became an official Nvidia Cloud Partner in 2023, per Bloomberg, and purchased more than $4.8 billion worth of Nvidia chips over roughly two years, per AP.
U.S. authorities have investigated whether the company helped Chinese companies obtain advanced Nvidia processors and if that violated export-control restrictions.
In December 2025, after the Justice Department took over the investigation from the Commerce Department, the company disputed allegations of illegal chip transfers, per the Times. Megaspeed said it would work with U.S. authorities on the investigation.
The latest: Treasury Secretary Scott Bessent said Friday that while his department and others agreed to place Megaspeed on a special list of companies that pose national security concerns, the Commerce Department has the final say.
Megaspeed was never added to any list, prompting backlash against Commerce Secretary Howard Lutnick when the news became public.
Bessent and Lutnick also clashed over the decision earlier this month, Axios' Maria Curi and Marc Caputo reported.
As Commerce secretary, Lutnick oversees the agency responsible for keeping sensitive U.S. technology out of American adversaries' hands. He came under fire over allegations that he delayed action to address concerns about Megaspeed smuggling U.S.-made AI chips to China.
Friction point: Lutnick was sent intelligence about Jensen Huang's relationship with Alice Huang, but the Commerce Department repeatedly failed to move forward with export restrictions despite pressure from senior administration officials and Trump himself, Axios reported.
Lawmakers from both parties are scrutinizing Lutnick's handling of the matter, with some calling for answers about his decision-making.
The Commerce Department has not confirmed whether Lutnick personally reviewed the memo.
Lutnick repeatedly delayed or resisted adding Megaspeed to the Commerce Department's entity list — which would restrict the company from exporting U.S.-made technology.
Trump administration sources told Axios that Lutnick had spent months "undoing" efforts from other officials to hold Megaspeed accountable.
His actions prompted a summons from the Senate Banking Committee to testify about his involvement with Megaspeed and Nvidia. Lutnick has agreed to appear in December, NBC News reported.
Yes, but: Trump has not distanced himself from Lutnick and "maintains complete confidence in the secretary," according to a White House official.
Jensen Huang has been one of Trump's closest allies in the tech industry since the president returned to office and continued to stand by him even after reports of his affair with Alice Huang emerged.
Huang has donated to some of Trump's biggest projects, including a $25 million Nvidia gift to help construct the White House Ballroom, per the Washington Post.
Following Jensen Huang's resignation, Trump said he had done a "fantastic" job leading Nvidia, calling him "a legend."
Flashback: In late October, The New York Times reported that Trump had been briefed earlier in the year on Huang's relationship with Alice Huang but chose not to act.
Trump previously pushed for fewer restrictions on selling advanced chips to China, but on at least three separate occasions in the past year, the president approved taking action against suspected diversions of Nvidia chips to China.
Go deeper: Jensen Huang's ouster triggers an AI earthquake
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