Here’s the full text of Jensen Huang’s memo to Nvidia

Nvidia’s chief executive, Jensen Huang, sent a personal memorandum to staff on Sunday that confirmed an affair with Alice Huang, an AI executive identified by U.S. officials as an agent of the Chinese government. The disclosure came shortly after the company’s board announced an internal investigation into the relationship, citing concerns that the liaison could pose a conflict of interest and potentially compromise the firm’s intellectual property and national‑security obligations..

The memo, which was circulated to all employees via the company’s internal portal, combined a personal apology with an acknowledgement of the board’s actions, and has sparked a wave of commentary across the technology sector, Wall Street, and diplomatic circles.In the brief note, Jensen Huang wrote, “I owe my family and all of you an apology. I was unfaithful to my wife. My actions hurt her and our children..

There is no excuse for what I have done.” He went on to say that he was “deeply sorry” for any disruption his conduct might have caused the company, and pledged to cooperate fully with the board’s inquiry. The memo did not provide further details about the nature of his interactions with Alice Huang, nor did it address the specific allegations that she had acted on behalf of Chinese state interests while engaging with Nvidia’s AI research teams.The board’s decision to launch a formal investigation was disclosed in a separate statement released by Nvidia’s governance committee. The statement said the board had become aware of “potentially serious concerns about a personal relationship that may have created a conflict of interest, given the sensitive nature of the work being undertaken at Nvidia.” It added that the board had appointed an independent law firm to conduct a comprehensive review, which would examine whether any confidential information, trade s, or strategic plans were shared inappropriately, and whether the relationship violated Nvidia’s code of conduct or applicable export‑control regulations.Alice Huang, who has previously held senior positions at a number of Chinese AI startups, was identified by the United States Department of Justice in a recent indictment as an “agent of a foreign government” who allegedly sought to acquire advanced semiconductor technology and AI models..

While the indictment has not yet named Nvidia specifically, U.S. officials have warned that the nation’s “critical technology supply chain” is vulnerable to infiltration through personal relationships and other informal channels. The timing of the board’s investigation, therefore, has been interpreted by many analysts as a proactive step to mitigate potential regulatory fallout and to reassure investors that Nvidia is taking the matter seriously.Market reaction to the announcement was swift..

Nvidia shares, which had been hovering near record highs after the company unveiled its next‑generation “Rubin” AI processor, fell roughly 4.2 percent in early trading on Monday, wiping out about $30 billion in market capitalization. Institutional investors expressed concern that the probe could delay the rollout of the Rubin chips, which are slated for delivery to several high‑profile customers, including a Japanese consortium planning to purchase 27,500 units for robotics applications. Some analysts warned that any perception of compromised security could prompt governments to reconsider existing contracts or to impose additional compliance requirements.Industry observers noted that Nvidia’s predicament underscores the growing geopolitical tension surrounding AI and advanced semiconductors..

The United States has tightened export controls on high‑performance computing hardware, aiming to prevent the technology from falling into the hands of potential adversaries. In this context, a personal relationship between a senior executive and a suspected foreign agent is viewed not merely as a private matter but as a possible breach of national security policy. “When you are the CEO of the world’s leading AI chipmaker, your personal conduct becomes a matter of strategic significance,” said Dr Emily Chen, a professor of international technology policy at Stanford University..

“The board’s decision to act swiftly reflects the heightened scrutiny that companies now face in an environment where technology and geopolitics intersect more than ever before.”Inside sources familiar with the investigation, speaking on condition of anonymity, indicated that the inquiry would focus on several key areas: communications between Jensen and Alice Huang over the past two years, any shared access to Nvidia’s internal data repositories, and whether the relationship influenced any strategic decisions, such as the allocation of research resources or the selection of external partners. The independent counsel has reportedly been given full authority to interview employees, review email archives, and coordinate with federal authorities if needed. The board also said it would evaluate whether additional corporate governance measures, such as stricter conflict‑of‑interest disclosures, should be instituted.Nvidia’s corporate culture, shaped by Jensen Huang’s charismatic leadership since the company’s founding in 1993, has long emphasized a blend of technical excellence and bold risk‑taking..

The CEO’s public persona—marked by his signature black turtleneck and enthusiastic presentations—has been a central element of the brand’s identity. The memo, however, has introduced a new narrative that contrasts sharply with that cultivated image. Employees, many of whom have expressed admiration for Huang’s vision, now face the challenge of reconciling the founder’s personal failings with the company’s broader mission to advance artificial intelligence responsibly.Human‑resources officials have reportedly set up a support hotline for staff who may have concerns or need counseling related to the disclosure..

The company’s internal communications team emphasized that the memo was intended to be “transparent and sincere,” and that the board’s investigation would proceed without prejudice to any individual. “Our priority is to protect the integrity of our technology and the trust of our partners,” a spokesperson said in a brief statement released after the memo’s circulation. The spokesperson added that Nvidia remains committed to its ongoing projects and that the investigation would not affect day‑to‑day operations.Regulators in the United States and abroad are watching the situation closely..

The Committee on Foreign Investment in the United States (CFIUS) has previously examined Nvidia’s acquisitions of AI startups for potential national‑security risks, and it is likely to be informed of the current probe. In Japan, where the government has earmarked billions of yen for the acquisition of Rubin chips to build a domestically developed foundational AI model for robotics, officials have requested assurances that the technology will not be compromised. A senior Japanese ministry official, speaking on condition of anonymity, said that “the integrity of the supply chain is paramount, and any indication of vulnerability will be taken seriously.”Legal experts suggest that the outcome of the investigation could set a precedent for how technology firms handle similar situations in the future..

If the inquiry uncovers evidence that confidential information was shared, Nvidia could face civil penalties under the Export Administration Regulations, as well as possible criminal charges for violations of the Economic Espionage Act. Conversely, a finding that no material breach occurred might reinforce the company.