Nvidia and chief executive Jensen Huang face a proposed shareholder class action accusing them of misleading investors about his alleged relationship with Alice Huang, a former Megaspeed executive suspected of working for Chinese intelligence. The lawsuit was filed in federal court in San Jose, California, on November 9, Reuters reported.
Shareholder Mark Kistenmacher brought the case and is seeking unspecified damages. A law-firm case summary identifies the proposed class as purchasers of Nvidia securities between October 9, 2025, and November 8, 2026. The case is pending in the U.S. District Court for the Northern District of California; the allegations have not been adjudicated.
The complaint alleges that Nvidia presented Huang’s dealings with Singapore-based Megaspeed as routine while failing to disclose his alleged personal relationship and associated national-security concerns. The plaintiff argues that those omissions exposed investors to risks to Nvidia’s reputation and business prospects. Alice Huang and Jensen Huang are not related, according to Reuters.
Nvidia’s board announced an independent investigation on November 8, overseen by independent directors with outside counsel. It expressed confidence in Huang and said it had no reason to believe national security or company secrets had been compromised. In his staff letter, Huang acknowledged infidelity and pledged to cooperate, without identifying the woman or confirming the espionage allegations.
Nvidia shares closed down about 4.3% on November 9, before the lawsuit was filed five minutes after the market closed, Reuters reported. The legal claim adds a shareholder-disclosure dispute to the board’s ongoing review. China’s Foreign Ministry has rejected the espionage allegation, leaving the underlying intelligence claims disputed as investors await further information.
