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The FBI is investigating Nvidia chief executive Jensen Huang’s relationship with a suspected Chinese intelligence operative, President Donald Trump has confirmed.
The investigation comes as shareholders have sued Huang and the American chipmaker, accusing them of concealing his alleged relationship with a woman suspected of spying for China.
Trump said on Monday that he had spoken directly to Huang about his relationship with Alice Huang, a Chinese businesswoman who US intelligence officials reportedly identified as an asset of China’s intelligence services.
Speaking at the White House, Trump said: “I asked him that question ‘Did you have any idea that she was a spy?’ He said,
‘I had no idea that she was a spy’ and I really believe him.”
The president confirmed the FBI’s involvement but expressed confidence in the Nvidia chief.
Trump said: “I know the FBI is looking into it.”
He added: “I think that he’ll be in good shape.”
The scope of the FBI investigation remains unclear. Authorities have not publicly established whether Huang knowingly assisted any alleged intelligence operation or whether confidential information was compromised.
The shareholder lawsuit, filed on Monday in federal court in San Jose, California, accuses Nvidia and Huang of misleading investors about his relationship with Alice Huang, a former executive at Singapore-based cloud computing company Megaspeed International.
The proposed class action was brought by shareholder Mark Kistenmacher, who alleges that Nvidia failed to disclose information that could have damaged its reputation and business prospects.
The complaint also challenges Nvidia’s previous statements about Megaspeed, which has faced scrutiny from American authorities over suspicions that advanced processors were supplied to Chinese customers in breach of US export restrictions.
Nvidia previously maintained that its compliance team found no evidence of illegal activity involving Megaspeed. The lawsuit argues that investors were not properly informed about the risks surrounding Huang’s relationship with one of its executives.
The action seeks unspecified damages on behalf of investors who purchased Nvidia shares between October 09, 2025, and November 08, 2026.
Nvidia shares fell 4.3 per cent on Monday, wiping approximately $190 billion from the company’s market value. The lawsuit was filed shortly after US markets closed.
Further details about Alice Huang’s business activities emerged on Tuesday following a Reuters investigation into her involvement with Megaspeed.
The news agency examined more than 30 financial records and corporate documents, establishing that she previously held senior positions in Chinese finance.
Alice Huang, also known as Huang Le, worked at Shanghai Hexi Investment Management before becoming Megaspeed’s controlling shareholder in March 2023, according to corporate records examined by Washington-based research group C4ADS.
Nvidia lists Megaspeed as an official cloud partner, and the company has purchased substantial quantities of advanced American processors for data centres in Asia.
Reuters also examined shipping records showing that Megaspeed’s Indonesian subsidiary imported Nvidia hardware between 2024 and 2026, including H100 processors subject to American export restrictions on sales to China.
The shipments to Indonesia do not themselves establish a breach of US export controls.
Corporate records show that Megaspeed’s shares were transferred to Singapore-based SwiftData in late 2023. C4ADS could not establish who ultimately controls SwiftData but assessed that Alice Huang may have retained influence over Megaspeed.
The New York Times previously reported that US intelligence officials believed Alice Huang had been recruited by China’s Ministry of State Security. Reuters said it could not independently verify the allegations, which China has denied.
The allegations have raised questions about whether sensitive information could have been obtained through personal conversations rather than direct access to Nvidia’s computer systems.
Jason Pack, a retired FBI supervisory special agent, warned that corporate security measures may offer limited protection against attempts to exploit executives’ personal relationships.
Pack told Fox News: “If this was a honey trap, here’s the risk: You can lock up the chips tighter than a bank vault, but you can’t put a padlock on a dinner conversation.”
He stressed that investigators must first establish whether such an operation occurred and whether confidential information was shared or business decisions influenced.
The controversy is particularly sensitive because of Huang’s close relationship with the Trump administration and his efforts to ease restrictions on advanced semiconductor exports to China.
Huang has argued that allowing American companies to sell processors to Chinese customers would help preserve US technological leadership.
Trump subsequently approved exports of Nvidia’s H200 processors, despite concerns that advanced American chips could strengthen Chinese military and intelligence capabilities.
Three senior Republican congressmen have requested a closed-door briefing with Huang on November 18 to examine whether the alleged intelligence operation exposed sensitive American technology or information.
Brian Mast, chairman of the House Foreign Affairs Committee, John Moolenaar, chairman of the Select Committee on China, and Rick Crawford, chairman of the House Intelligence Committee, have asked Huang to confirm his attendance or propose an alternative date by November 11.
Nvidia’s board has separately appointed independent directors and outside legal counsel to investigate reports that its chief executive was targeted by a foreign intelligence operation.
The company has said it has no reason to believe national security information or its trade secrets were compromised.
Huang has admitted being unfaithful to his wife, apologised to his family and employees, and pledged to cooperate with the investigation.
Megaspeed has denied violating American export controls.
China has also rejected allegations that its intelligence services targeted Huang.
China’s Foreign Ministry spokesman Guo Jiakun said on Monday: “The so-called Chinese spy allegation is unsubstantiated. It is nothing but smears against China.”
Nvidia is due to report its quarterly earnings on November 17, one day before Huang’s proposed congressional briefing.
The company now faces scrutiny from federal investigators, Congress, its own directors and shareholders, with questions still unresolved over whether Chinese intelligence obtained sensitive information or gained influence over one of America’s most important technology executives.
