Nvidia's board of directors have launched an independent investigation into co-founder and CEO Jensen Huang's relationship with a woman intelligence agencies claim is a Chinese spy.

According to reports in the New York Times and Financial Times, the woman in question, Alice Huang, who is affiliated with a cloud company called Megaspeed, has been passing information to China, citing concerns raised by intelligence agencies. Megaspeed is an existing customer of Nvidia.

Huang confessed to having an affair with the woman and letting down his family, wife, children and employees of shareholders and Nvidia in an emailed statement.

"There is no excuse for what I did. I am deeply sorry. My actions have hurt my wife and Children," Huang's statement read.

However, Huang said he remains committed to continue as CEO of Nvidia without any disruptions and the board has also supported the same.

"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," Nvidia’s board said in a statement.

Nvidia, the most valuable company in the world, is currently in the center of trade disputes between the US and China, as the US restricts the exports of Nvidia's most advanced chips to the world's second-largest economy, even as the export of older, slower models has been permitted.

Megaspeed, according to reports, has already been under investigation for evading export controls, while Nvidia CEO Huang has pushed for broader AI chip exports to China, calling it better for the US.

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