Jensen Huang and Howard Lutnick Called to Testify as Nvidia Slips Below $4tn

Senate Banking Committee Chairman Tim Scott sent letters on November 12 requesting that former Nvidia CEO Jensen Huang and Commerce Secretary Howard Lutnick testify before his committee. Huang is asked to appear voluntarily on December 3. Lutnick is summoned for December 10. Scott threatened subpoenas if either refuses.

The summons followed Huang's resignation as Nvidia's chief executive the same day, amid revelations of extramarital affairs including with Alice Huang, a Chinese businesswoman U.S. officials suspect was recruited by China's Ministry of State Security. Nvidia's board plans to continue investigating Huang despite his departure.

The inquiry reaches beyond the spy allegations. It focuses on export controls and Megaspeed, a Singapore-based Nvidia customer whose former executive U.S. officials suspect of spying for China. Lutnick has clashed with other administration officials over Nvidia chip sales to Asia, drawing accusations that the Commerce Department has become too cozy with Nvidia and failed to police its China sales. Senator Jim Banks accused Lutnick of using a "loophole" and called for his testimony.

The House has separately requested closed-door interviews with Huang and Nvidia General Counsel Tim Teter on December 1 and 2.

Nvidia's market value fell below $4 trillion for the first time since July 2025.

The hearings could reshape U.S. policy on advanced chip exports to China, affect Nvidia's business and the broader AI industry, and test how far Congress will go to hold tech and Commerce officials accountable for national security risks. Whether Huang and Lutnick appear voluntarily or face subpoenas remains unresolved. So does what Lutnick's Commerce Department knew about Nvidia's chip sales to Megaspeed and China.