Several key points remain unresolved. The board has not published its findings or said who will lead the review. Nvidia previously described Huang's dealings with Alice Huang as ordinary customer contacts involving no trade secrets or national-security information, and the company has not reconciled that account with the new reporting. The Ministry of State Security recruitment claim comes from press reports, not official confirmation. The scale of Megaspeed's purchases is also unclear: one account says the company bought nearly $5 billion in Nvidia chip technology, but Nvidia has not confirmed that figure. Congressional timelines have not been set.
For attorneys, the central question is whether the board can act independently. Former SEC Chairman Gary Gensler said the inquiry must determine whether the CEO was honest with directors. Early signs suggest the board may be reluctant to confront Huang, so the probe's scope and whether it interviews Huang directly will show whether it is credible. Counsel advising clients on chip sales should review export-control and end-user diligence for Singapore-based buyers, particularly any transactions tied to Megaspeed. Securities and governance lawyers should watch for disclosure obligations, derivative claims, and any shareholder demands for a special committee.