Romantic photos show Jensen Huang embracing alleged Chinese spy as Nvidia faces legal trouble

TAIPEI, TAIWAN: Romantic photographs showing former Nvidia CEO Jensen Huang embracing Alice Huang, an alleged Chinese spy, have surfaced, adding to the controversy surrounding the billionaire and the chipmaking giant.

The pictures were taken on June 2, 2024, shortly after Jensen delivered his keynote address at COMPUTEX 2024 in Taipei. The latest development comes as Nvidia faces questions over its corporate liability insurance and a federal lawsuit involving the company and its former chief executive.

The 63-year-old billionaire was photographed with Alice, 49, an alleged operative for China's Ministry of State Security. The images show the two embracing, with Jensen holding Alice by the hip as she wraps an arm around his shoulders.

Jensen Huang's photos with alleged Chinese spy Alice Huang surface

The photographs offer a glimpse into Jensen and Alice's reported relationship, which is believed to have begun in 2024. The two reportedly first started socializing in December 2023 while working at Singapore-based data center company Megaspeed International.

The pictures were taken shortly after Jensen delivered his keynote address at COMPUTEX 2024. During the speech, the Taipei-born billionaire also joked about speaking to the audience in Chinese.

"I want to speak to you in Chinese, but I have so much to tell you. I have to think too hard to speak Chinese. So I have to speak to you in English," he said.

The photographs have now brought renewed attention to the allegations surrounding his relationship with Alice, who has been described as an alleged Chinese intelligence operative and former executive.

Jensen Huang faces cheating allegations as Nvidia scandal deepens

The reported relationship with Alice is not the only controversy surrounding Jensen. The married billionaire has also been accused of cheating on his wife, Lori Huang, his college sweetheart, with Nvidia vice president Kimberly Powell and another unnamed Nvidia employee.

The allegations have added to the pressure surrounding the former executive, while Nvidia has reportedly lost roughly $200 billion in market value this week amid the growing scandal.

However, the potential consequences are not limited to the company's falling market value. Nvidia could also face additional legal exposure because it reportedly lacks certain types of directors and officers (D&O) liability insurance.

Nvidia's lack of D&O insurance raises fresh legal concerns

According to the Financial Times, the $3.92 trillion chipmaking company does not have comprehensive D&O coverage, which typically helps protect companies and their executives against certain legal costs and damages arising from claims.

D&O insurance is generally divided into three parts: Side A, Side B and Side C.

Side A covers the personal assets and legal defense costs of company directors and officers. Side B reimburses the company when it pays legal fees and defense costs for its executives. Side C, meanwhile, protects the company itself when it is named alongside its officers in a lawsuit.

Nvidia reportedly only has Side A coverage, leaving the company potentially exposed when it is named alongside Jensen in legal proceedings.

Aaron Le Marquer of law firm Stewarts explained why the other forms of coverage are common among major companies.

"For a public company, it’s normal to have Side A and Side B coverage — it’s almost regarded as compulsory. And in the US, most large public companies would have Side C as well, because the exposure is so serious. Everyone gets sued all the time," he told the Financial Times.

Nvidia already faces federal class-action lawsuit

The insurance concerns come as Nvidia is already dealing with a federal class-action lawsuit filed in California.

The lawsuit accuses the company and Jensen of violating federal securities laws by failing to disclose significant national security and regulatory risks.

The case adds another legal challenge for the chipmaker as questions surrounding its former chief executive continue to draw attention.

Jensen, who co-founded Nvidia in 1993, resigned as CEO and board member on Thursday.