Nvidia preps exit strategy for Jensen Huang as Trump Administration is warned to preserve documents about its knowledge of spying and chip smuggling

Detailed summary

Everything you need to know before you reach the office this morning.

Decisions are being made. It seems all but certain that Jensen Huang’s time as Nvidia CEO is coming to an end. Nvidia’s board met last night to discuss how to prepare for his removal. Since then, we have learned that they selected an outside firm to find candidates to replace him and that the board is considering naming a temporary CEO while the search goes on, according to Bloomberg.

Huang’s fate was sealed when the NYT reported that he’d had a second affair with Kimberly Powell, Nvidia’s vice president of health care: “Mr. Huang, 63, and Ms. Powell, 48, were captured on video being affectionate at a San Jose, Calif., hotel during a Nvidia conference in March, according to two of the people who worked at the company. The New York Times has not seen the video.”

Alice Huang (no relation), Jensen’s other affair partner, has relocated to Beijing “with the knowledge of security officials,” according to Bloomberg. Alice is the founder of Megaspeed—which is currently under investigation by U.S. authorities for suspected chip smuggling—and a suspected Chinese spy.

A congressional investigation is now almost inevitable. Sens. Elizabeth Warren and Chris Coons have asked the Trump administration to preserve all documents related to Nvidia, its exports, and Huang. That’s a common first step prior to a more formal inquiry.

Commerce Secretary Howard Lutnick is likely to come under scrutiny. After the Trump Administration restricted chip exports to China, Lutnick dragged his feet on enforcing the ban, to the bafflement of his cabinet colleagues, Axios reported.

And then there are Nvidia’s Singapore sales. The company used to report the top countries to which it sold products. As late as summer of 2025, 22% of the company’s business went to Singapore—an unusually large chunk given the small size of the city-state. But then Nvidia suddenly stopped reporting its country rankings, the WSJ said.

On Nov. 17, there is the small matter of Nvidia’s Q3 earnings call. Who will be the host?

Verizon…

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