Plot twist: Nvidia’s board opens a probe while $BTC watches the AI-chip drama

Nvidia’s board of directors opened an independent investigation on November 8, 2026, into reports that CEO Jensen Huang was targeted by a foreign intelligence effort. A committee of independent directors, assisted by outside counsel, will oversee the inquiry, with outside lawyers also reviewing the allegations and Huang agreeing to cooperate. “While the Board has no reason to believe that either national security or NVIDIA secrets were compromised, the Board's inquiry will examine all available information,” the company said. The board also “has confidence in Jensen and his leadership team.”

The investigation follows a Financial Times report that a U.S. government memo, written earlier this year from intelligence information, alleged that Huang had been romantically involved with Alice Huang, an executive at Singapore-based Nvidia customer Megaspeed. The FT reported that U.S. intelligence believed she was recruited by China’s Ministry of State Security. Nvidia declined to comment on the memo, while Huang’s Sunday email to staff did not name the person involved. Nvidia told The New York Times that his interactions with Ms. Huang were “not unusual or unexpected” and that customers such as Megaspeed receive “ordinary business information.”

Lawmakers from both parties are seeking answers. Republican leaders asked Huang to appear privately before the House China, foreign affairs and intelligence committees, according to the FT. Sen. Chris Coons (D-DE), who will chair the Senate Foreign Relations Committee from January, wrote in a tweet: “Congress will investigate and get answers.” The FT report built on a New York Times investigation that said U.S. intelligence agencies had concluded Alice Huang, also known as Huang Le, was a Chinese intelligence asset and surveillance had revealed a close relationship with Jensen Huang. President Donald Trump was reportedly briefed on the findings roughly a year ago and chose not to act on them.

China rejected the allegations at a regular Foreign Ministry press briefing on Monday. Spokesperson Guo Jiakun said: “The so-called Chinese spy allegation is unsubstantiated. It’s just smears against China.” He also denied reports that Beijing had sought information through Huang. China’s embassy in Washington dismissed the allegations as “groundless smears and slanders.” Megaspeed said it had retained outside counsel for an internal investigation, while Ms. Huang did not respond to requests for comment.

U.S. officials suspected Megaspeed of helping Chinese companies circumvent restrictions on advanced AI chips, and the Commerce Department’s investigation into the company has been transferred to the Justice Department, the Times reported. Trade records cited by the newspaper showed that Megaspeed’s sister company in Malaysia purchased at least $4.8 billion worth of AI equipment containing Nvidia chips between June 2024 and February 2026. Nvidia shares fell about 5% in premarket trading as the company reviewed the reported foreign intelligence claims. Nvidia also recently unveiled the OpenShell Reference Architecture at GTC Berlin.