Jensen Huang is set to testify on Capitol Hill before Thanksgiving. Multiple reports say the matter is related to his interactions with a woman alleged to have ties to a Chinese intelligence agency; NVIDIA is still investigating whether any national security information or company secrets were leaked. For a company whose market capitalization once exceeded $3 trillion and whose business is central to the global AI chip supply chain, this is no ordinary inquiry. Using June 2024, when NVIDIA’s market cap first topped $3 trillion, as a reference point, its data center GPUs accounted for more than 80% of the global AI training market, and the delivery schedules for H100s and A100s directly affect the computing expansion plans of cloud providers such as Microsoft, Meta, and Amazon. More specifically, NVIDIA generated about $47.5 billion in data center revenue in fiscal 2024, nearly 80% of its total revenue. Any developments related to export licenses, customer reviews, or internal confidentiality could therefore affect order schedules and its market valuation. If the hearing puts “personal relationships” on the same table as export controls, data security, and trade secrets, the market will reassess the risks: deliveries of high-end chips such as the H100 and A100, customer reviews, and compliance costs could all face line-by-line scrutiny. U.S. congressional hearings typically require written testimony to be submitted in advance, and when national security is involved, closed-door briefings may also be held. Public questioning and follow-up investigations proceed in parallel. As seen in 2023, when OpenAI CEO Sam Altman testified before the Senate and TikTok CEO Shou Zi Chew testified before the House, such hearings often begin with personal relationships but ultimately turn to corporate governance, data flows, and export compliance. For NVIDIA, if lawmakers question its sales arrangements in China, customer due diligence processes, and internal information classification policies, any vague answers could be amplified into supply chain risks. Since 2022, U.S. export restrictions on the A100 and H100, and subsequent tightening, have already driven NVIDIA to spend more on compliance teams, alternative chip designs, and customer screening. The fact that he is NVIDIA’s CEO alone shows that this is a serious matter.