Several key points remain unresolved. The board has not announced whether it will remove Huang, and the investigation's findings have not been released. The second question the probe is examining has not been detailed publicly. The FBI is conducting a separate investigation, and its scope has not been disclosed. The reports about Alice Huang's alleged ties to Chinese intelligence remain unproven.
Shares fell more than 4% on Monday and 6% on Tuesday as investors weighed the possibility that Huang could be forced out. Shareholders have filed a proposed class action accusing Nvidia and Huang of failing to adequately disclose the affair and its potential business impact. Three House Republican committee leaders have also asked Huang to testify before Congress about Nvidia's security protocols and the possibility of foreign infiltration. Attorneys tracking this matter should watch the board's leadership decision, any findings from Kim's review, the FBI's next steps, and whether the disclosure claims in the class action advance, particularly given Nvidia's central role in AI chips and China export controls.