Nvidia and CEO Jensen Huang sued over alleged concealment of ties to suspected Chinese spy

Nvidia and CEO Jensen Huang were sued Monday in a proposed class action accusing them of defrauding shareholders by concealing Huang's ties to a suspected Chinese spy, a matter raising national security concerns that threatened the company's reputation. The San Jose, Calif., federal lawsuit alleges defendants misled shareholders about Huang's alleged affair with Alice Huang, a former Megaspeed executive, and failed to disclose the national security implications. The New York Times reported last month that U.S. authorities concluded Alice Huang was a Chinese intelligence asset. Nvidia announced a probe into the matter Sunday, and its shares fell 4.3% Monday, cutting market value by about $190 billion. Shareholder Mark Kistenmacher seeks unspecified damages for buyers of Nvidia stock between Oct. 9, 2025, and Nov. 8, 2026.