NVIDIA's board opens an independent investigation after reports Jensen Huang was a spy target

NVIDIA's board says a committee of independent directors, assisted by outside counsel, will oversee an investigation after reports that Huang was the target of a foreign intelligence effort. The board says it has no reason to believe national security or NVIDIA secrets were compromised, that Huang supports the review and will cooperate, and that it has confidence in him and his team. The New York Times first reported a US memo saying China's Ministry of State Security recruited a Megaspeed executive to spy on Huang. Huang also published a message to employees apologizing for his personal conduct.

Why it matters: A board-level probe of the CEO adds to congressional pressure on NVIDIA's China dealings, nine days before its earnings.

The espionage claims come from press reports of a memo and are not official findings. NVIDIA earlier called the interactions not unusual and said it does not share classified information with customers. We read NVIDIA's statement directly; the New York Times and FT reports were read through TechCrunch.