Nvidia board preparing to oust Huang after report of second affair

CNN is learning that Nvidia's board of directors is meeting tonight. to discuss the future of the CEO, Jensen Huang, following reports. that he had an affair with a woman suspected of being a Chinese spy, an affair that could have affected all of America's national security. That bombshell, coming, as The New York Times also reports, Huang also had another extramarital affair, this one with an executive who reports directly to him. CNBC's Jim Cramer, weighing in tonight on just how big of an international. national security and corporate scandal this is.

The greatest investment story ever told. Became almost overnight a blight on our country, with its chief. spokesperson caught up some tawdry spy scandal that made thoroughness. look like child's play with another revelation tonight. Jensen. is a corner. The reference to foreigners is incredible there. Paul Moser is OutFront now, new York Times reporter. who's been breaking news on this story from the beginning. And in fact, has been investigating Jensen Huang's relationship.

with the suspected spy for over a year. Paul. So, you know, Nvidia gosh, it was a few days ago. when your report came out and they were, I mean, just so offended. Right? Like what? This is nothing. What do you even talk? I mean, it was just it was completely take a hike. And they were saying Jensen was going to lead the company through this, this all. And here we are with Jim Cramer saying that the scandal here. that affects America's national security all the way.

up to the president of the United States, makes Theranos look like child's play. Yeah, it's, remarkable. You know, I mean, we had a number of denials from Nvidia over the past year. You know, the first that the company led by Alice Huang had no ties to China. Later that this was the relationship was totally normal. And, you know, now we find ourselves today, the board is meeting to decide, Jensen's fate. We don't know what will be decided. But it's, you know, comes after news of this second affair.

with an executive at Nvidia, earlier this year. And it's just an incredibly fast turnaround. I mean, you know, just a few hours ago, we thought Jensen would be leading the company, through this investigation. And now, it looks like his fate is undecided. and just a roller coaster for arguably the most important AI company in the world. And also maybe one of the most important, for, people's investment portfolios. as well in the United States. I mean, it's incredible. And, you know, you've reported that the Singapore based company. that Alice Huang worked for, the suspected Chinese spy, was able to do something.

that no one else could do by more. than $4 billion of Nvidia's most advanced chips. Right? The chips on the front lines of what is essentially an AI race, an arms race between the US and China, and who is going to rule. the nuclear weapons of our time. A race to China is ahead on, and those chips are crucial to that. So can can you put some context on this? How rare is it for any company to sort of, out of nowhere, get. $4 billion of those coveted Nvidia AI chips?

Yeah. So, I mean, the biggest. tech companies in the United States have no problem buying that amount. But for a tiny company that was formed in 2023 to 4 days after, it sort of reach, you know, reforms itself and restructures itself, be added to a cloud, you know, partner list and then start getting billions and billions of dollars of chips. That's unheard of. I mean, these are. there are long lines to buy these chips that the most precious goods, in AI.

And, what's fascinating with our reporting is we showed that, Alice won. Her relationship with Jensen actually goes back to 2023, which is when she was creating this company. So, you know, it's sort of remarkable. because even as she's restructuring this company, and basically. cutting its ties to China and putting it through a Singaporean shell, you know, she is talking to Jensen and she's meeting with Jensen, and that seems to have really helped her, appears to have helped. smooth the way for this flow of chips, which, again, unprecedented for such a small, unheard of company.

Yep, yep. And through, as you say, what had become a backdoor for China. to obtain those chips. Which of course, the reason that the US had until, any policy changes not allowed them to have it was. because they said those were being used for the Chinese military. Paul Moser, thank you very much. Your incredible reporting on this. And as I said, when Jim Cramer talks about making Theranos. look like child's play, in part that is because this is so much bigger. than just the biggest and most important AI company in the world into America. It is because it could go to the president of the United States. I mean, how close are Hwang and President Trump rank is up front?

Jensen's an amazing guy. He's become a friend of mine. President Donald Trump singing the praises of Nvidia CEO Jensen Huang. Jensen is a very brilliant guy. Before 2025, the two men barely knew each other, but with the AI boom, Wang worked to cultivate a relationship with Trump. and push him to loosen. his administration's restrictions on selling Nvidia's chips to China. This is a smart cookie. Turns out Wang was engaging Trump at the same time.

the CEO was having an extramarital affair with a woman, U.S. intelligence concluded was a Chinese spy, something China now denies. It's unclear when they met, but as early as September 2024, Wang was pictured with this woman, Alice Wong. The photo was taken at a luxury golf resort in California and posted on WeChat, a Chinese social messaging app, just a few months later, in April 2025, Jensen Huang attended a $1 million per person dinner at Mar a Lago.

The two became fast friends, according to CNN analysis. Trump has met with Huang more than a dozen times during his second term so far. I want to thank you, sir, for everything that you've done and the strong encouragement. and the great policies that make it possible for us. Thank you so. Much. Thank you. In April. 2025, the same month that Wang made that visit to the white House, the United States banned. the export of Nvidia's coveted high performance H20 chips to China.

Nvidia told investors the ban could cost the company $5.5 billion. Jensen Huang lobbied against the ban, pushing for more exports. of Nvidia chips to China. He insisted that would keep China from developing their own. In May last year, Jensen Huang and Alice Huang attended a group dinner in Taipei. Video shows her kissing him on the cheek. The two later left in the same car. A photo posted the next day shows them standing together. in the restaurant's kitchen.

A couple months later, in July 2025, Nvidia's Huang convinced the Trump. administration to loosen restrictions on chip sales to China. I deal with Jensen, who is a great guy, and Nvidia, the chip that we're talking about, the H20. It's, it's an old chip. Three months after Jensen Huang struck that deal with Trump, Nvidia. donated $25 million to the construction of Trump's ballroom. As The Washington Post later reported. Meanwhile, around that same time, the New York Times reports,

the president was briefed about the suspected Chinese spy operation. targeting Jensen Huang, but chose not to act. Days after another meeting with Huang in December 2025, Trump announced on Truth Social he'd allow exports of Nvidia's. more powerful H 200 chips to approved Chinese customers. In May of this year, Jensen Huang joined Trump for his trip to China, summoned by the president to meet him in Alaska and fly with him on Air Force One.

Trump told reporters the subject of Nvidia's advanced H. 200 chip was raised 100. He's good. China needs it. And so, yeah, I gave up. Enroute to China, a source familiar with the matter tells CNN. Secretary of state and national Security advisor Marco. Rubio informed President Trump that the U.S. had obtained intelligence showing Nvidia's CEO was in a relationship. with a woman believed to be a Chinese spy, as recently as Monday this week.

President Trump denied ever being told. I didn't hear about it then, but a lot of people have heard about it. and Jensen totally denies that. By September this year, it was clear the two men were still close. Wang happily took Trump's call. During this appearance, Mr. President. Oh yes sir, I got to tell you something. I. I if it wasn't because of you calling, I would. I'm on stage.

And they put him on speaker. A few days later, Wang attended a state dinner for Chinese President XI at the white House. And last month, Trump awarded Jensen Huang. the nation's highest honor for scientific achievement. Jensen, we are honored to give you the highest award. of its kind again, anywhere in the world. There is nothing like it. It's incredible that. timeline, all put together, brandy, $25 million Huang donated to Trump Forum as you laid out.

But that was not the extent of it. Right, right. Nvidia gave that. And Nvidia also donated $1 million to Trump's inaugural committee. But as far as the investigation is now, there's to investigations underway. still tonight, Nvidia announced that they had retained, former acting U.S. Attorney Joon Kim to conduct this independent investigation. President Donald Trump said earlier this week. that the FBI is also investigating. But it really is remarkable, Aaron, because this was a company. that was formed. It was a dream that came to light, came to life in a Denny's restaurant,

and now has a it has a market value worth more than $4 trillion today. and no built in successor if he is ousted. No. An interesting Trump saying the FBI can investigate. what was his own intelligence, his own director of national intelligence. He told him this is happening about a year ago. So that that should not be lost on anyone.