Huang Agrees to Testify Behind Closed Doors Before Thanksgiving, House Chairman Says, as Reinstatement Petition Passes 108,000 Signatures

Since Jensen Huang resigned as Nvidia CEO on Nov. 12 amid affair allegations and a suspected Chinese spy link, the pressure has moved to Capitol Hill. House Foreign Affairs Chairman Brian Mast (R-FL) told reporters that Huang has agreed to testify under oath after several senior lawmakers threatened a subpoena.

Closed-door testimony before Thanksgiving

Mast said the session is expected before Thanksgiving. It will be behind closed doors but recorded on video and transcribed. Three bodies plan to take part: the House Foreign Affairs Committee, the House China panel and the House Intelligence panel.

Mast has fought with Huang over export controls. He framed this as bigger than that fight. "Nvidia is a very important company to the United States of America," Mast said, adding: "I don't want to see anything hurt in Nvidia, but he has some very serious questions to answer."

Lawmakers are expected to press Huang on what he may have disclosed or discussed during his relationship with Alice Huang, a former executive at Singapore-based Megaspeed. The New York Times reported in October that U.S. intelligence officials said she may be a spy for the Chinese government. China's foreign ministry has called the allegation groundless and a smear. Attorney General Todd Blanche said Thursday that the Justice Department has not concluded whether she is a spy.

Lutnick, Commerce and the Megaspeed file

Commerce Secretary Howard Lutnick has agreed to testify before the Senate Banking Committee on Dec. 10, according to a letter that cites the hearing's purpose: whether Commerce is "properly performing its broader role of preventing China from acquiring advanced AI chips." A separate letter sent Friday asked Lutnick to testify about Megaspeed before the House Intelligence Committee.

The Justice Department is investigating Megaspeed over possible diversion of restricted Nvidia chips to China. The New York Times reported that a Commerce investigation into the company was moved to Justice in 2025 after Nvidia's lawyer contacted a senior Commerce official. Neither Nvidia nor Commerce is quoted in the notes on that point, and no charges have been announced.

Singapore's Home Affairs Ministry says its own Megaspeed investigation, covering the company and six unnamed individuals, remains open. The ministry said police found insufficient evidence in February 2026 that Alice Huang committed false-declaration offenses. It said she knowingly gave inaccurate information about her role at Megaspeed, received a warning and was barred from re-entering Singapore. Singapore also said it got limited help from U.S. authorities on questions about server maker Supermicro.

Petition passes 108,000, with caveats

The "Stand with Jensen" petition had more than 108,000 signatures as of Saturday afternoon, Nov. 14. Elon Musk and Replit CEO Amjad Masad have promoted it on X. Organizers claim more than 58,000 shareholders, 5,600 current Nvidia employees and over 1,000 former employees are among the signers. Those figures are the organizers' own and are unverified.

The list also carried obvious fakes, including "Tim Cruise, Hollywood actor" and "Xi Jingping." Organizers said they were "actively working" to remove fake signatures.

Their open letter argues the board removed Huang without an investigation or "meaningful due process." "We have not been shown evidence substantiating the espionage allegation," the organizers wrote. "After thirty-three years pouring his heart and soul into NVIDIA, Jensen deserves due process, not mob justice." They say the campaign does not treat the espionage allegations as proven.

Nvidia's board has said it opened an independent investigation into whether Huang was the "target of a foreign intelligence effort." That inquiry began Nov. 8, before the resignation.

Musk said Saturday on X that without Huang, some "critical deals will be lost."

Big holders ask for a slower process

Two large shareholders went a different direction. Altimeter Capital CEO Brad Gerstner and Atreides Management's Gavin Baker signed a letter asking the board to "pursue a slow, measured, and deliberate process" on leadership and to weigh "the potential return of Jensen Huang." They said Nvidia will be "capably led" by interim CEO Colette Kress in the meantime. The letter did not demand immediate reinstatement.

Altimeter held 9.4 million Nvidia shares worth nearly $1.9 billion as of June 30, its largest disclosed equity position. Atreides held 1.2 million shares worth nearly $250 million.

Stock, lawsuit and Asian customers

Nvidia shares fell as much as 13% intraday on Nov. 12 and finished the week down about 12%. The stock's forward price-to-earnings ratio dropped to roughly 12x expected earnings, the lowest since 2012, according to Crypto Briefing's calculation.

A shareholder class action filed by the Rosen Law Firm alleges Huang and Nvidia misled investors about the national security risks of the relationship and propped up the share price. Those are allegations in a complaint, not findings.

Asian partners are checking their exposure. South Korea's Science Ministry said Nvidia reaffirmed its supply plans. Reuters reported the exit raised uncertainty over more than $3 billion in Chinese AI computing projects that depend on restricted Nvidia processors. China's foreign ministry said it was not aware of reports linking restricted Nvidia chips to a Shanghai data center associated with Alice Huang.

What comes next

Nvidia's earnings call is expected Nov. 17. President Trump is scheduled to visit China on Thursday and, according to U.S. officials, does not plan to raise the Nvidia matter with Xi Jinping. Musk is expected to join him at the APEC summit in Shenzhen on Nov. 18 and 19.

Huang's closed-door testimony is due before Thanksgiving, and Lutnick faces Senate Banking on Dec. 10. The board has not disclosed the scope or timeline of its investigation.