Nvidia's board hired Wachtell, Lipton, Rosen & Katz to investigate CEO Jensen Huang over whether he was the target of a foreign intelligence effort. Former US attorney Joon H. Kim, a partner at the firm, is leading the probe.
The investigation follows Huang's admission of an extramarital affair with Alice Huang, whom US intelligence officials believe is acting as a spy for the Chinese government, according to reporting by The New York Times.
Wachtell, founded in 1965, specializes in mergers, corporate governance, and high-stakes litigation. The firm represented Twitter in its 2022 lawsuit against Elon Musk over his $44 billion acquisition. Wachtell also conducted investigations for the NBA, including a 2021 probe into Phoenix Suns owner Robert Sarver that resulted in a $10 million fine and one-year suspension. In September, the NBA fined the LA Clippers $30 million and suspended owner Steve Ballmer for one year following a Wachtell investigation into salary cap circumvention.
Kim joined Wachtell last month after nearly a decade at Cleary Gottlieb Steen & Hamilton. He served as acting US attorney for the Southern District of New York from 2017 to 2018, overseeing more than 220 assistant US attorneys. From 2000 to 2006, he worked as an assistant US attorney in the same district, securing convictions including against Peter Gotti. In 2021, Kim co-led an independent investigation into sexual harassment allegations against former New York Governor Andrew Cuomo, which concluded Cuomo sexually harassed multiple women and led to his resignation.
Investors following Nvidia should monitor statements from the company's board and any updates on the investigation's findings.