Nvidia CEO Faces Spy Questions Ahead of Nov 11 Deadline

When a chief executive becomes entangled in espionage allegations, shareholders worry about two things: will the CEO keep his position, and how will the stock perform either way?

Nvidia investors are confronting both concerns with a looming deadline. CEO Jensen Huang must inform Congress by November 11 whether he will respond to queries regarding a suspected Chinese spy.

The stock has already taken a hit. It finished at $186.64 on November 6, following a 9.3% drop the day before.

What Does the Spy Memo Contain?

A U.S. intelligence document alleges that China's primary spy agency recruited Alice Huang, an executive at Megaspeed, a Nvidia customer. The New York Times first broke the story. The Financial Times added that the pair were reportedly involved in a romantic relationship.

The memo has not been made public. Its allegations remain unproven. Nvidia has described the contacts as "not unusual."

Here is the uncomfortable part. Trump was briefed on Alice Huang about a year ago and chose not to act, the Times reported. Officials feared hurting Nvidia’s chip sales.

Now three House committee chairs want answers. Their November 4 letter asks Huang for a closed-door briefing. It accuses no one of wrongdoing.

Is Huang’s Job Safe?

For now, nobody with power over it has called for him to go. Trump called Huang “very aboveboard” on October 31, but said the case was “a very complex issue.”

Senator Elizabeth Warren posted a sharper line on October 29.

“Huang and NVIDIA’s board owe Congress answers.”

Nvidia’s own annual report admits the company is “highly dependent” on its longtime executives.

If he did leave, history cuts both ways:

• Apple fell about 5% after hours when Steve Jobs stepped down in 2011.

• Intel rose more than 3% when Pat Gelsinger left in 2024.

November 11 is also when a weekly batch of Nvidia options expires. OptionCharts data shows traders pricing a range of $179.35 to $198.09.

Not every drop is about Huang. AMD fell 17.3% in the same November 5 AI chip selloff.

Earnings land November 17. The proposed briefing is the next day. Nvidia has not said whether Huang will show up.