Nvidia earnings next Tuesday, Congress on Wednesday: Jensen Huang faces the most consequential 48 hours of his career

Nvidia CEO Jensen Huang is heading into a crucial week, with the company's third-quarter earnings report due November 17 and Republican lawmakers seeking a closed-door congressional briefing with him on November 18. The two developments come as reports about his relationship with a woman suspected of having links to Chinese intelligence draw growing attention in Washington.

The questions surrounding Huang extend beyond his personal life. Lawmakers want to understand whether the reported relationship raised national security concerns, what the Trump administration knew about it and whether Nvidia's business with China could face further scrutiny.

Nvidia's board has already opened an independent investigation into Huang's involvement with Alice Huang, a Chinese citizen and executive at Singapore-based technology company Megaspeed. Huang acknowledged in a memo to employees on November 8 that he had been unfaithful to his wife. The board, however, said it had no reason to believe that Nvidia's secrets or national security had been compromised.

Jensen Huang will face congressional scrutiny after Nvidia (NVDA) earnings

Three Republican House committee chairs, Brian Mast, John Moolenaar and Rick Crawford, have requested a closed-door briefing with the CEO on November 18, one day after the earnings announcement. In their letter, the lawmakers raised concerns about China's access to sensitive US technology and information.

They are seeking answers about Huang's reported interactions with Alice Huang and the company's security procedures. Huang's attendance has not been confirmed.

Nvidia's market value stands at approximately $4.5 trillion. Yahoo Finance's Jared Blikre noted that the company's valuation was roughly four times the combined value of the nine largest companies previously hit by CEO personal-conduct scandals. Nvidia also represents nearly 7% of the S&P 500.

The company's shares fell about 4% on Monday, while the Philadelphia Semiconductor Index gained nearly 7%.

Alice Huang's alleged Chinese intelligence links draw scrutiny

The controversy centres on Alice Huang, a Chinese citizen and executive at Megaspeed, a Singapore-based technology company that US authorities have suspected of helping China circumvent restrictions on AI chip sales.

According to intelligence information described by The New York Times, US policymakers received a memo last spring identifying Alice Huang as having been recruited by China's Ministry of State Security. Secretary of State Marco Rubio reportedly oversaw the memo's creation.

Nvidia spokesman John Rizzo previously told The New York Times that Huang's interactions with Alice Huang were consistent with meetings he had with other Nvidia customers. He also said the CEO had an outstanding security team that accompanied him when needed.

The allegations have prompted lawmakers to seek more information about Huang's interactions and whether sensitive information could have been exposed. The board has said it has no reason to believe Nvidia secrets or national security information were compromised.

Nvidia's China chip sales face renewed attention

The controversy has also brought Nvidia's business in China back into focus, particularly its sales of advanced H200 AI chips.

The New York Post reported that some Republican lawmakers are pushing for a cutoff of H200 chip sales to China. The Trump administration approved limited sales to certain Chinese companies in December 2025, under an arrangement that gives the US government 25% of the revenue. Huang had personally lobbied for approval of the sales.

Questions about the administration's approach to chip exports have also emerged following a separate report about Chinese company New Matrix. The New York Times reported that the Trump administration approved the company to assemble Nvidia chips in Beijing, although the newspaper found little evidence of meaningful operations at its listed address.

The Commerce Department had cleared the company over national security concerns. And Republican Sen. John Cornyn called the findings outrageous.

Democrats join Republicans in demanding answers

The calls for an investigation are coming from both sides of the political aisle.

Sen. Chris Coons, a Democrat from Delaware, called for Congress to investigate the reported relationship and what the Trump administration knew about the alleged Chinese intelligence connections.

Coons is in line to chair the Senate Foreign Relations Committee when Democrats take control of the chamber in January.

Rep. Seth Magaziner, a Democrat from Rhode Island who sits on the House Homeland Security Committee, has separately called on Commerce Secretary Howard Lutnick to testify before Congress alongside Huang.

The growing interest from Democratic lawmakers means the questions are no longer limited to the Republican request for a briefing. Lawmakers are also seeking information about the administration's handling of the intelligence reports.

Nvidia board opens independent investigation into Jensen Huang

Nvidia's board announced on November 8 that it was opening an independent investigation into Huang's involvement with Alice Huang.

The board said it had no reason to believe that national security or Nvidia's confidential information had been compromised. It added that the inquiry would examine all available information.

Nvidia has also sought to reassure employees and the market that the developments will not interrupt the company's leadership. The company told CNBC that Huang remains committed to continuing as CEO without interruption.