The board is investigating because the woman he had the affair with is a Chinese spy.
Neither the board nor the US government nor investors nor the average person gives a shit about a CEO having an affair as long it doesn't compromise his ability to do his job well.
Chinese spy can mean everything from “sell us more GPUs to China or I leak our affair” (which I think NVDA would be very happy with - they’ve already admitted to chip diversion, and their senior execs have been arrested for the same) to trade secrets being given to Huawei.
IMHO, I’m speculating, but I think the affair could’ve happened first, and then the MSS got involved for access and blackmail.
There is, after all, statistically a high correlation with rich billionaires and infidelity…
Alleged Chinese spy unless I’m reading the article wrong? A Chinese intelligence asset could mean someone who just had CPC membership in college. Not that I’m saying Alice Huang isn’t a spy, I just would want more information before deciding.