CEO behind the meteoric rise of Nvidia stepped down after it was revealed he had an affair with an alleged Chinese spy
Jensen Huang has stepped down as CEO of Nvidia, the company at the center of the AI boom, after leading it for more than 30 years.
Huang, an electrical engineer by education, stewarded the company from a $1bn firm when it went public in 1999 to a company valued at more than $4tn in 2026. But in a matter of days, after it was revealed he had an extramarital affair with a woman that US officials believe to be a Chinese spy, Huang managed to wipe more than $600bn from the company’s valuation.
China has denied the accusations that it had tapped Alice Huang, the woman in question and a top executive at a datacenter company called Megaspeed, to be an intelligence asset, and called them a “smear”. US officials had reportedly started to monitor the Megaspeed executive after suspecting the firm was diverting powerful Nvidia AI chips to Chinese firms, in potential violation of export restrictions. The Biden and Trump administrations had prohibited US companies from exporting some of the more powerful AI chips to China over national security concerns.
Just a week ago it seemed that Huang’s ouster was unlikely, but in the days since he first disclosed an affair and affirmed his commitment to the company, the New York Times reported that there was a second affair – this time with another Nvidia executive.
A lot has happened in the last few days, but how did we get here? Here’s a timeline of what we know about Huang’s entanglements.
2023
March 2023Megaspeed, a datacenter firm, is spun out from a Chinese video game company
Megaspeed is the datacenter firm at the center of the spy allegations. Before it was its own company, it was a part of one of China’s largest video game companies, 7Road Holdings Ltd. At this time, Megaspeed was controlled by a firm called Huang Le Ltd, an entity affiliated with Alice Huang, according to Bloomberg.
November 2023Megaspeed is sold to a Singaporean shell company and becomes an Nvidia cloud partner
Huang Le Ltd sells its shares of Megaspeed to a Singaporean shell company called Swiftdata. The sale comes weeks after Joe Biden issued an executive order limiting investment in China’s AI industry.
Soon after, Megaspeed is designated an Nvidia cloud partner, which means the company could get preferential access to Nvidia’s advanced AI chips.
2024
June 2024Alice Huang and Jensen Huang are seen together in Taipei, Taiwan
Jensen Huang is seen with Alice Huang at a bar in Taipei where several AI industry executives had gathered. The person who introduced them to each other was Alice Huang’s husband, Kang Wei, who had worked with her on several business ventures, according to the Wall Street Journal.
2024 to 2025Megaspeed receives several hundred shipments of Nvidia AI chips
The Singapore-based firm fields 200 shipments of AI chips, according to the New York Times. The company then rents out compute power, which is fueled by these AI chips, to major companies including the Chinese firms Tencent and Ali Baba.
2025
September 2025The US Department of Commerce begins investigating Megaspeed
The commerce department begins investigating whether Megaspeed is diverting Nvidia chips to Chinese firms, according to the New York Times. This could violate export restrictions on advanced AI chips.
January 2025Jensen Huang meets Donald Trump for the first time
Huang visits Donald Trump in the weeks after he takes office.
April 2025Jensen Huang attends a dinner for donors at Mar-a-Lago
The dinner costs $1m a person and the president briefly puts a pause on imposing restrictions on Nvidia chip sales to China. The restriction is ultimately implemented shortly after.
May 2025Jensen Huang is again seen with Alice Huang
The two attend an industry conference in Taiwan. The New York Times also reportes that Alice Huang visited the Nvidia headquarters in Santa Clara, California, two months earlier.
October 2025Trump is reportedly briefed on the relationship between Alice Huang and Jensen Huang
The New York Times reports in October 2025 that intelligence officials told Trump that the two had a relationship and alleged that Alice Huang was a Chinese spy. Trump chose not to take action, according to the Times report. Trump has since said at a White House press conference that he didn’t remember being briefed on this.
December 2025Trump approves the sale of more advanced Nvidia chips to China
Trump grants Nvidia permission to sell its second most powerful chips to China. A portion of the sales would go to the US government.
2026
May 2026Marco Rubio reportedly drafts a memo about Jensen Huang and Alice Huang
The US secretary of state, Marco Rubio, drafts the memo based on information gleaned from electronic surveillance of Alice Huang, according to the New York Times. The memo warns that Jensen Huang has become close to an alleged Chinese spy. Trump still invites Huang on his trip to China, saying in a social media post that he is honored to have “the Great Jensen Huang” on the trip.
October 2026The New York Times reports Jensen Huang may have been targeted by a Chinese spy
At the time, Nvidia spokesperson John Rizzo says Jensen Huang’s relationship with Alice Huang is nothing out of the ordinary.
8 November 2026Jensen Huang admits to having an affair
In a letter to employees, Huang says that he had an extramarital affair, apologizes to his family and reaffirms his commitment to the company. The Nvidia board says it is investigating the relationship but has no reason to believe national security secrets or company secrets were divulged. “The board has confidence in Jensen and his leadership team and will provide further updates as appropriate,” members of the Board say in a statement.
Silicon Valley leaders rally behind him, and at the time it appears that Huang might hang on to his job, despite his image being tarnished.
9 November 2026Trump says he is ‘amazed’ by the allegations that Alice Huang is a spy
At a press conference, Trump says the FBI is investigating Jensen Huang but adds that he thinks Huang will be “in good shape”.
“And I asked him about that, and he … said he had absolutely no idea that the person in question was a spy,” the president says at a press conference. “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.’”
“I really believe him,” Trump says.
10 November 2026A shareholder in California files a lawsuit against Nvidia and its CEO
Retail investor Mark Kistenmacher files a lawsuit accusing the company of misleading investors over Huang’s affair, claiming that Nvidia did not disclose the situation and raised national security concerns that could threaten the company’s business prospects.
11 November 2026The New York Times reports there was a second affair, and the Nvidia board reportedly prepares to oust Huang
The New York Times reports that Huang also allegedly had an affair with the company’s vice-president of healthcare.
At this point things are looking precarious for Jensen Huang, and then the Wall Street Journal reports that the Nvidia board is preparing to oust the CEO.
12 November 2026Jensen Huang steps down as CEO of Nvidia
Huang steps down, ending his 33-year tenure leading the company he co-founded in 1993. The board starts a search for the company’s next CEO while the company’s chief finance officer, Colette Kress, serves as interim CEO.
Meanwhile, shares in the company continue to plummet.
