Nvidia has found itself at the center of a spying scandal as its CEO, Jensen Huang, admitted to an affair with an alleged Chinese intelligence asset. A couple of hundred billion dollars have been wiped off the company’s value and law firms are already circling for blood.

A handful of law firms have announced they are urging investors to sign up to cover their losses through legal action or initial investigations, including Rosen Law Firm and Schall, Brown & Schwartz. They say they’re going after the company on charges of false and/or misleading statements and failure to disclose key information.

An official Nvidia spokesperson previously denied claims that Jensen Huang had anything beyond a normal relationship with Alice Huang, the alleged spy, at the end of October. The company also vouched for Megaspeed, the Singaporean datacentre company that Alice Huang has been connected with, saying that any claims of its involvement in chip smuggling have been “thoroughly investigated and debunked”; which Megaspeed reiterates on its website.

Since then, Huang has admitted his relationship with Alice Huang was not a normal business relationship. Alice Huang has also been noted as a Chinese intelligence asset by US authorities; something which a memo circulated around the Trump administration is reported to have said at a much earlier date.

Nvidia’s board is also launching an investigation into whether Jensen Huang was the target of foreign intelligence. The board states that it has “no reason to believe that either national security or Nvidia secrets were compromised.”

Who knew what and when is all set to be litigated one way or another, as Jensen Huang is heading to a closed-door meeting with Congress committee leaders to discuss his relationship with Alice Huang on November 18.

Further to that, president Donald Trump, speaking to reporters at the White House, briefly mentioned he believed the FBI to be “looking into” the matter. He also said he believed Huang to be an “honourable guy” and generally seemed to get behind the Nvidia CEO.

Any class action suit could take a very long time to resolve. There’s still an open claim for a class action regarding Nvidia’s actions during the cryptocurrency mining boom of 2017-18. Remember that? It sucked, too.

The 2020 case has been bouncing around the courts for a while now, being dismissed, revived, and sent up to the Supreme Court, before being sent back down again in 2024. Now, in 2026, they might just think about starting an actual trial—maybe. We’re talking eight years after the actual events leading to the case.