Nvidia and Jensen Huang face shareholder lawsuit over alleged undisclosed relationship

Investor Mark Kistenmacher filed the proposed class action in a federal court in California on Monday. He alleges that earlier statements about Huang’s contacts with Alice Huang, a former executive at Singapore-based data centre company Megaspeed, and Nvidia’s business relationship with the firm were misleading because they did not disclose an alleged affair.

The complaint points to an Nvidia spokesman’s description of Jensen Huang’s interactions with Alice Huang as “not unusual or unexpected”. It also cites the chief executive’s description of Nvidia’s dealings with Megaspeed as normal. Kistenmacher is seeking unspecified damages on behalf of investors who bought or acquired Nvidia securities between 9 October 2025 and 8 November 2026. The court has been asked to allow the case to proceed as a class action.

The New York Times reported last month that US authorities had concluded Alice Huang was a Chinese intelligence asset. She and Jensen Huang are not related. In a message to employees on Sunday, the Nvidia chief apologised for being unfaithful to his wife but did not identify the other person.

Nvidia’s board separately announced an independent investigation on Sunday, before the lawsuit was filed. It said it had no reason to believe national security or Nvidia secrets had been compromised and expressed confidence in Huang. Reuters reported on Monday that Nvidia had not immediately responded to its request for comment on the lawsuit.

Nvidia shares closed down 4.27% on Monday, reducing the company’s market value by approximately $190 billion, according to Reuters. The lawsuit was filed after the market closed. Dutch news agency ANP reported that the fall reduced the value of Huang’s wealth by $6.5 billion; it cited the Bloomberg Billionaires Index as estimating his remaining fortune at $148.5 billion.