According to MarketWatch, Nvidia CEO Jensen Huang admitted in November to an affair with Alice Huang, a former executive at Singapore-based Megaspeed, following a May report by short-seller Culper Research that questioned the company's compliance with U.S. export restrictions to China. Culper had alleged that Nvidia's stated near-zero China business masked ongoing chip transfers through entities like Megaspeed and subsidiaries of Alibaba. Nvidia's stock has declined over 20% since Culper's May report; the company's board launched an independent investigation into potential foreign intelligence concerns. The admission has heightened U.S. congressional scrutiny, with bipartisan lawmakers seeking investigations and proposals for tighter semiconductor export controls. Analysts warn that further restrictions could pressure Nvidia's China revenue, which fell from 28% of total sales in Q4 2022 to 8% in Q3 2026.
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