Jensen Huang, who resigned Thursday as CEO of powerhouse AI chipmaker Nvidia over reports that he had a relationship with a woman alleged to be a spy for the Chinese government, has agreed to testify before Congress this month, according to the chair of the House Foreign Affairs Committee.

Committee Chair Brian Mast, R-Fla., told MS NOW on Thursday that Huang’s testimony is “likely going to be an under oath transcribed video recorded between several committees,” before the House adjourns for Thanksgiving recess. Mast did not say when Huang would testify or whether it would be public.

Huang, who founded the company, also stepped down as a member of Nvidia’s board of directors, effective immediately, the board announced. Nvidia’s chief financial officer and executive vice president, Colette Kress, will temporarily serve as CEO. The board said it will look at internal and external candidates to determine who will permanently lead one of the world’s most geopolitically influential companies.

“Nvidia is a very important company to the United States of America” Mast said. “I don’t want to see anything hurt Nvidia, but he has some very serious questions to answer.”

Huang’s departure comes after the company launched an investigation into a relationship he reportedly was having with a woman who U.S. intelligence officials are said to have determined was a Chinese asset. Subsequent reports said he had a second affair with an executive who reported to him.

On Sunday, Huang apologized in a statement to the company, saying, “I was unfaithful to my wife” and that “my actions hurt her and our children. There is no excuse for what I did. I am deeply sorry.” He did not say with whom he had an affair.

Nvidia shares plunged by 13% as markets opened Thursday but had regained some of its losses by midafternoon.

The incoming Democratic-controlled Congress is also preparing to investigate Huang and to what extent President Donald Trump knew about China’s alleged spying.

After Huang resigned, Trump said in a post on Truth Social that Huang has “done a fantastic job” and then floated former Apple CEO Tim Cook as a replacement.

The president told reporters at the White House on Monday that Huang told him he “had no idea” the Chinese businesswoman with whom he was having an extramarital affair was an operative for Beijing.

“I really believe him,” he said.

Asked Monday about how the Trump administration handled information about the alleged spying, a White House spokesperson referred MS NOW to Trump’s comments and said, “These sources have no idea what they’re talking about.”

In October, The New York Times reported that Trump had been briefed a year ago on electronic surveillance showing that the woman, who goes by the name Alice Huang, was believed by the U.S. intelligence community to be a spy for China’s government. According to the Times, the president “chose not to do anything with the information at the time.”

According to the Times, Secretary of State Marco Rubio oversaw the drafting of an intelligence memo last spring that warned Trump and his top Cabinet officials of the intelligence assessments that Huang was a spy. Trump on Monday denied having seen that memo and said he did not know about the national security concerns when he invited Huang to join him on a trip to China in May.

In a post on X on Thursday, Sen. Chuck Schumer, D-N.Y., who is expected to be elected as majority leader in the next Congress, demanded answers from Huang and the company about risks to U.S. national security. He also pointed to Trump, saying the administration must “answer for” its response after learning of the reports that Huang was involved with a Chinese intelligence asset.

Democrats and Republicans alike are expected to probe Commerce Secretary Howard Lutnick’s knowledge of the matter, following reports that he was warned about Huang’s alleged relationship with the suspected spy in a highly classified memo. He has faced mounting scrutiny on Capitol Hill over whether his decision to allow sales of Nvidia’s advanced chips to China put the interests of private tech giants over U.S. national security.

The Commerce Department oversees the agency directly responsible for approving exports of advanced AI chips and semiconductors. The department’s chip export policies have been the subject of criticism from lawmakers and national security experts since Lutnick took the reins of the agency. Those concerns have exploded in recent days amid reports that the alleged spy Huang reportedly had an affair with is tied to the Singapore-based company Megaspeed, which the Commerce Department greenlit as a buyer of Nvidia’s advanced chips earlier this year. According to the Times, the Commerce Department abruptly stopped an investigation into the company and sent the case to the Justice Department.

The Times reported Wednesday that Huang also had an intimate relationship with Kimberly Powell, Nvidia’s vice president of healthcare. The Times cited five people who worked at the company.

In a statement on Sunday, shortly after the investigation was announced, Nvidia’s board said that it “prioritizes U.S. national and economic security, which is paramount to the interests of NVIDIA and its shareholders.” It added that it “has no reason to believe that either national security or NVIDIA secrets were compromised.”

The chips the company produces are the driving force behind the data center boom that has powered the U.S. economy for the last year.

Huang co-founded Nvidia in 1993 with Chris Malachowsky, a senior technology executive for the company, and Curtis Priem, who left the company in 2003.

Nvidia became the first publicly traded company to surpass a $4 trillion market valuation in July 2025. Huang is the largest individual shareholder, with a 3.56% stake in the AI powerhouse. Before Huang’s resignation, Nvidia’s stock traded around $160.50 on Wednesday.

Kevin Frey contributed to this report.

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