NVIDIA's Troubled Autumn: $11.4M GPU Heist & CEO Investigation

NVIDIA GPU Shipment Theft

On November 6, media reports revealed a theft of NVIDIA GPU hardware valued at approximately $11.4 million (about 76 million RMB). The shipment consisted of 6 pallets that left an Oakland, California warehouse on August 29 bound for Fort Worth, Texas. The truck bore markings of a food transport company and presented complete pickup documentation, so the warehouse released it normally.

The truck traveled south from Oakland, making multiple extended stops before its tracking signal ceased in San Bernardino County, Southern California. The vehicle, driver, and entire cargo disappeared. As of the report, Oakland police continue to investigate; no suspects have been apprehended and no goods recovered. The specific GPU models have not been disclosed.

UC Berkeley professor Olaf Groth noted: "These chips sell abroad for roughly double the U.S. domestic price. If a chip costs about $550,000 in the U.S., its overseas price could reach $1 million or more."

Board Launches Independent Investigation into CEO Jensen Huang

On November 8, NVIDIA's board announced an independent investigation into founder and CEO Jensen Huang. The same day, Huang sent an open letter to all employees, which the company also published.

In the letter, Huang addressed personal family issues, apologizing to his family and staff: "I owe my family and all of you an apology. I have been unfaithful to my wife. My actions have hurt her and our children. There is no excuse, and I am deeply sorry." He acknowledged betraying his family's trust, accepted full responsibility, and expressed hope for healing.

Addressing colleagues, the board, global partners, and shareholders, Huang admitted he had not met the expectations of his role, pledged to remain fully committed to the company, and vowed to rebuild confidence.

Regarding media reports linking him to national security controversies, Huang stated he would fully cooperate with the independent investigation: "I love my country and my company. I am committed to protecting NVIDIA and supporting U.S. national security. I am proud and grateful to be an American." He also urged the public to keep his family out of the spotlight. Notably, the letter did not directly connect his personal conduct to the intelligence-related allegations.

References

NVIDIA Board Statement: https://nvidianews.nvidia.com/news/statement‑from‑nvidia‑board‑of‑directors

Jensen Huang's Message to the Company: https://nvidianews.nvidia.com/news/a‑message‑to‑our‑company

New York Times Report: https://www.nytimes.com/2026/10/29/us/politics/nvidia‑china‑jensen‑huang‑trump.html

ArsTechnica Report: https://arstechnica.com/gadgets/2026/11/nvidia-hardware-worth-11-4m-vanished-between-oakland-and-texas/