NVIDIA announces investigation of CEO amid foreign intelligence target allegations

Jensen Huang "is committed to continuing to lead NVIDIA," the company said.

SANTA CLARA, Calif. -- Tech giant NVIDIA has announced an investigation of its CEO amid allegations that he was the subject of a intelligence-gathering effort by the Chinese.

"The NVIDIA Board is initiating an independent investigation in light of recent reporting that founder and CEO Jensen Huang has been the target of a foreign intelligence effort," the company said in a statement Sunday, adding that a "committee of independent directors, assisted by outside independent counsel, will oversee the investigation."

Jensen "fully supports the review" and will cooperate with it, the NVIDIA statement further said.

"While the Board has no reason to believe that either national security or NVIDIA secrets were compromised, the Board's inquiry will examine all available information," according to the statement.

"The Board prioritizes U.S. national and economic security, which is paramount to the interests of NVIDIA and its shareholders," the statement further said.

"The Board has confidence in Jensen and his leadership team," according to the statement.

This is a developing story. Please check back for updates.