⚖️ Nvidia hires Cuomo investigator Joon Kim to probe Jensen Huang

Nvidia has retained Joon Kim, a partner at Wachtell, Lipton, Rosen & Katz, to run an independent investigation tied to CEO Jensen Huang, the New York Post reported on Tuesday, Nov. 10. First reports landed around 7:22 AM ET. Per the Post, Kim and his firm are to examine whether Huang was targeted by a foreign intelligence operation, and the company announced the hire.

The résumé is the headline. The Post says Kim was one of two lawyers Letitia James, New York's attorney general, appointed in 2021 to investigate Andrew Cuomo. That inquiry concluded Cuomo had sexually harassed multiple women, according to the Post. Cuomo denied the allegations and resigned. Kim was also acting US attorney in Manhattan from March 2017 to January 2018, the Post says.

Who says what about the scope

Semafor describes the job somewhat more broadly. It says Kim will lead an internal probe, overseen by a committee of independent directors, into whether Huang compromised trade secrets or, more pressingly, US national security interests. Semafor also says it is unclear how far the board will let Kim roam. Neither outlet publishes a charter, a deadline or a reporting line for the findings.

The board's own words, as carried by NBC News and the BBC, are narrower. It is investigating in light of recent reporting that Huang was the target of a foreign intelligence effort. It says it has no reason to believe national security or Nvidia secrets were compromised, and that the inquiry will examine all available information.

The board under the microscope

The Post says the hire lands amid questions about the independence of a board long viewed as deferential to Huang. It cites the New York Times for the claim that Nvidia's 10 directors have served a combined 161 years. Early investors Mark Stevens and Tench Coxe joined in 1993, per the Post's account of that report. Three former employees told the Times, again per the Post, that Huang viewed the board largely as a formality.

Semafor adds a wrinkle. It reports, citing people familiar with the matter, that the committee was leaning toward former Cooley CEO Stephen Neal on Sunday, a detail it says the Financial Times also reported. It also says some directors suggested Cooley, Nvidia's longtime outside counsel, which would have invited criticism that the probe was not independent. Nvidia declined to comment on that, per Semafor. Semafor further notes that Wachtell's M&A advisers are working on OpenAI's pending IPO, according to people familiar with the matter. Nvidia is a major OpenAI investor, Semafor says. Those are Semafor's claims; the Post does not repeat them.

The response

"I support the investigation and will cooperate fully."

Jensen Huang, in a statement quoted by BBC News

Huang also wrote to staff, in a memo shared with NBC News: "I was unfaithful to my wife." Beijing has rejected the spy allegation. Foreign Ministry spokesperson Guo Jiakun called it "unsubstantiated" and "nothing but smears against China," per NBC News. A Wachtell spokesperson declined to comment for Semafor. The reports read include no public comment from Kim. Alice Huang could not be reached for comment by the Financial Times, and did not respond to the New York Times, per the BBC. No public response from her was found in the reports read.

What happens next

The reports read give no timetable for Kim's work or for publishing findings. Separately, Axios reported that the Republican committee chairmen who asked Huang for a briefing gave him a Nov. 11 deadline to set a date for the meeting. Al Jazeera reports the lawmakers called on him to appear on Nov. 18. Whether the board's lawyer and Congress end up asking the same questions is not yet known.

Backstory

This follows our earlier coverage: "🤖 Nvidia board opens Jensen Huang probe; shares seen 4% lower", "🤖 Congress presses Nvidia's Jensen Huang over Megaspeed claims" and "⚖️ Nvidia, Jensen Huang face shareholder suit over Megaspeed". The Financial Times reported on Nov. 7, citing people familiar with the matter, that the US government believed Huang had a romantic relationship with Alice Huang, a Megaspeed executive. The two are not related, per NBC News. Nvidia declined to comment on that memo, the FT says, and had said Huang meets "thousands of customer executives every year."

As of Nov 11, 2:49 AM ET, what is confirmed is this: Nvidia's board announced an independent investigation on Nov. 8, Huang admitted being unfaithful to his wife, and the Post reports that Kim and Wachtell have been retained. What is pending: the scope in writing, a timeline, any findings, and Huang's answer to the Nov. 11 congressional deadline. The espionage claims rest on reports citing unnamed sources, and Beijing denies them.