CNN: Jensen Huang is mired in espionage ties and corporate governance controversies, with Nvidia facing a potential $1 trillion market value wipeout if he is forced to step down.

According to CNN, NVIDIA CEO Jensen Huang is embroiled in a corporate governance crisis amid allegations of extramarital affairs with a woman the U.S. intelligence community has identified as a Chinese spy, as well as with a subordinate. NVIDIA’s board of directors has hired leading Wall Street law firm Wachtell, Lipton, Rosen & Katz to conduct an independent investigation, focusing on whether Huang concealed the relevant relationships from the board, whether there were conflicts of interest, and whether the company misled investors in its response to media reports. The report notes that a confidential memo released by U.S. intelligence in May this year identified Alice Huang, an executive at Singapore-based NVIDIA client Megaspeed, as a Chinese intelligence officer. Megaspeed is also under federal investigation for allegedly diverting advanced U.S. chips to China and violating export control regulations. Jensen Huang has admitted to the extramarital affairs, but NVIDIA stated there is currently no reason to believe national security or the company’s trade secrets have been compromised. Former U.S. SEC Chairman Gary Gensler said that if the investigation finds Huang intentionally misled the board, he could face removal from his position. NVIDIA previously claimed that Huang’s interactions with Alice Huang were normal client communication, a statement that contradicted his subsequent admission of an extramarital affair. Additionally, shareholders have filed lawsuits accusing NVIDIA and Jensen Huang of misleading investors in their responses to related media reports. NVIDIA’s stock price once dropped as much as 9% in a single day earlier, the report added. Dan Ives, an analyst at Yorkville Ives & Co., estimates that if Jensen Huang is forced to step down, NVIDIA’s market value could lose $1 trillion.