Nvidia launches independent probe into billionaire Jensen Huang after he admits affair with suspected Chinese spy

Nvidia's board has opened an independent investigation into billionaire co-founder and Chief Executive Officer Jensen Huang after he admitted an extramarital relationship with a woman U.S. intelligence officials reportedly believe was gathering information for China.

In a statement on Sunday, the chipmaker said "a committee of independent directors, assisted by outside independent counsel, will oversee the investigation." The board said it had "no reason to believe that either national security or Nvidia secrets were compromised," but that it would examine all available information. It also said it retained "confidence in Jensen and his leadership team."

Huang will keep running the company while the inquiry goes on. A company representative said "Today's news will not slow Nvidia," according to The National.

The probe came on the same day that Huang told employees about the affair in an email. "I was unfaithful to my wife. My actions hurt her and our children. There is no excuse for what I did. I am deeply sorry," he wrote. He added that his family "bears no responsibility for my choices" and asked for their privacy. He also said he would cooperate fully with the board's review.

The woman at the center of the case is Alice Huang, also known as Huang Le, a former executive of Singapore-based data center company Megaspeed. She is no relation to Jensen Huang. The New York Times reported on Oct. 29 that she tried to build ties with him to learn about Nvidia's technology, Al Jazeera reported. Neither she nor Megaspeed has been charged, and China's embassy in Washington has denied the spying allegations.

Meanwhile, the case is drawing attention in Washington. Republican lawmakers, including Representatives John Moolenaar and Brian Mast, have asked Huang to appear for a closed-door briefing on Nov. 18 about Nvidia's protections against foreign espionage. Democratic Senator Elizabeth Warren said Huang and the board "owe Congress answers." President Donald Trump, however, defended Huang and called him a "fine person."

The investigation also adds to pressure on Nvidia's stock. The shares are down about 22% from their October peak, and they fell about 6% on Germany's Tradegate exchange on Monday compared with Friday's U.S. close, Nairametrics reported. The company is due to report quarterly earnings on Nov. 17.

Last month, Nvidia defended Huang's contacts with Alice Huang as routine customer meetings. According to the Times report, officials did not believe he knew she was collecting information, and no one has accused him of wrongdoing.

Huang co-founded Nvidia in 1993 and has led it ever since. His stake in the company has made him one of the richest people in the world.