Nvidia CEO Jensen Huang Pulls Out of ElevenLabs Summit Amid Controversy

Nvidia CEO Jensen Huang has pulled out of the ElevenLabs Summit scheduled for Wednesday in New York and from other speaking engagements, voice AI company ElevenLabs confirmed Monday. The withdrawals come after Huang admitted to an extramarital affair over the weekend and as Nvidia opened an investigation into his relationship with a possible Chinese spy.

Huang apologized in a memo to the company, saying he was unfaithful to his wife and that his actions hurt her and their children, and that there was no excuse for what he did, according to TechCrunch.

The incident has rattled the AI industry, raising questions about Huang's staying power as CEO and Nvidia's China ambitions. Concerns about a potential crackdown on Nvidia's business are percolating on Wall Street. As much as 10% of Nvidia's revenue may come directly or indirectly from China, according to a Monday analysis from New Street Research. That amounts to between $37 billion and $47 billion of Nvidia's total expected fiscal year 2027 revenue of $411 billion, based on consensus estimates cited by New Street. Of that China-exposed revenue, New Street classifies 6% as legal sales into China and Hong Kong, and 4% as booked officially outside China. Of the latter 4%, the firm estimates half is physically diverted into China and the other half is used by Chinese-controlled offshore capacity.

The company told investors at its 2026 annual shareholders meeting that it is committed to compliance with all U.S. laws and works in collaboration with the entire AI ecosystem and U.S. government.

The U.S. maintains export controls on some of Nvidia's most advanced chips, though Chinese firms have reportedly been able to access Nvidia-powered computing capacity through other countries. The New York Times reported Monday that the Commerce Department had already been investigating the company where the suspected Chinese spy was a boss before the investigation was transferred to the Justice Department, after the Commerce Department was contacted by Nvidia's general counsel.

Nvidia shares were down about 4.3% in delayed trading. What remains unclear is how the investigation and the affair will affect Huang's tenure and Nvidia's China business. The ElevenLabs Summit is scheduled for Wednesday in New York.