U.S. senators Elizabeth Warren and Jim Banks urged Congress on November 9, 2026, to tighten controls on exports of NVIDIA’s advanced chips to China. Their call followed reports of a possible intelligence operation targeting CEO Jensen Huang. They said NVIDIA had reportedly received approval to ship hundreds of thousands of advanced AI chips, including to organizations linked to China’s armed forces; the senators want the proposed AI Overwatch Act included in the fiscal 2027 defense budget.
Huang acknowledged an affair with a former executive whom U.S. intelligence agencies reportedly suspect of cooperating with Chinese intelligence. Her involvement in espionage has not been publicly proven. NVIDIA’s board began an independent review, and the company said it had no current basis to believe U.S. state secrets or its confidential information had been compromised. A shareholder filed a class-action lawsuit against NVIDIA and Huang on November 9, alleging they misled investors; NVIDIA shares fell about 4.3% that day, cutting roughly $190 billion from its market value.
