Nvidia's outgoing chief executive, Jensen Huang, has agreed to testify before Congress ahead of the Thanksgiving holiday, according to House Foreign Affairs Committee Chairman Brian Mast. The confirmation came shortly after Huang's departure from the company on Thursday, following intense scrutiny over his alleged ties to a Chinese intelligence asset.
Huang, who co-founded Nvidia in 1993 and served as its president and CEO, stepped down after reports surfaced of an extramarital affair with a Chinese businesswoman identified by U.S. authorities as an intelligence asset. The news has weighed on Nvidia's stock, which was down 5.77% at the time of writing.
Congressional Summons and Testimony Details
Huang had been summoned by three House Republicans last week, including Mast, John Moolenaar, and Rick Crawford. They had requested a closed-door briefing on November 18 regarding the allegations. Mast had indicated he was willing to issue a subpoena if Huang did not respond, but on Thursday, Mast confirmed Huang's agreement to testify.
“He has agreed to come,” Mast told reporters. “We’re in negotiations for which day.” The testimony is expected to be held over video and transcribed. Mast noted, “Jensen and I have been very at odds as some of you already know on export controls, but Nvidia is a very important company to the United States of America.”
Huang's Exit and Nvidia's Response
Huang's exit caps a turbulent week for Nvidia, marked by his acknowledgment of infidelity and reports of his involvement with Kimberly Powell, Nvidia's vice president of healthcare. The Information reported that Huang's affair may have facilitated at least $7.5 billion in Nvidia chip shipments to Chinese companies.
Nvidia's board has appointed Colette Kress, the company's executive vice president and chief financial officer, as interim CEO. Kress will continue in her CFO role while leading the company until a permanent successor is named.
The situation has raised questions about Nvidia's future leadership and its role in the AI sector, as Huang had been a prominent figure in the AI buildout and maintained a close relationship with President Donald Trump.
Investors are closely watching the developments, as Nvidia's stock has been volatile amid the uncertainty. The company's board had initially expressed confidence in Huang, but fresh revelations have escalated the situation.
This article is for informational purposes only and does not constitute financial advice.
