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What OP is implying is that the Board likely implicitly condoned any effort Jensen would take to make sales to China including making underhanded deals that look like honeypot operations but may as well have been a double honeypot operation. The implication is that the outcome of said affair was actually good for Nvidia. You imply that the interests of Nvidia and the US government and by extension the US public are aligned. That’s a citation-needed level assumption. Nvidia just wants to make money. The government hopefully has different interests.
The penalties for ITAR/EAR violations are severe so I suspect it's as ludicrous and incorrect a theory as one might suspect.

What is interesting is the woman appears to be extremely mid-looking.

If there is a lesson to be learned from all these extremely powerful men cheating on their wives with objectively ordinary women (e.g. Gates, Bezos, Tiger Woods) it's that the most beautiful woman in the world is worth about the same as the woman that works at McDonald's.

1. that is a bit inappropriate to just openly say "but that spy girl looks mid"

2. The goal of honey trapping is to gain trust from the target to do whatever you want to do, not to please them. They don't even have to have an actual physical contact. A "mid", unassuming, appearance is often appropriate for this purpose. This actually applies to actual assassins, 100x engineers, and millionaire landlords, too; they gain nothing from standing out, so they look mid. You may optionally look good, but your looks should not be the means by which you achieve your goals.

3. (Extension to 2.)A rich CEO having affairs with a "mid" woman for a true extramarital love is probably more damaging to their relationships than them just disappearing into a hotel room with a prostitute with a bottle in hand. The latter is probably more tolerable to those involved and to the public.

4. Forgot where I read this, some diplomat's essay or something, but allegedly, Russians will do what you want to be happening, starting with regular office staffs and moms, escalating to scantily dressed girls, to visibly gay dudes, at which point they accept that their operation had been too obvious and give up. So there is a chance, I guess, if you must have it???

I'm sorry but what is this vapid take on personal relationships and attraction? I don't get the point of anything beyond your first sentence. Can you explain?
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Not the OP, but I was also curious about how the woman looked, i.e. if she was physically attractive or not. That's interesting from a "history of honey-potting"-perspective, good for the Chinese that they knew what moved this horny CEO's gears and that they were able to match it. As far as I know it was the Russians/Soviets who were experts at honey-potting, this is the first time when I read from the Chinese doing the same at such a high level.
There was also Fang Fang and Rep Swallwell

https://abcnews4.com/news/nation-world/swalwell-and-fang-fan...

Diane Feinstein also had a Chinese spy for a driver for 20 years, though I'm going to assume for my own sanity that wasn't a sexual relationship.

https://www.cbsnews.com/sanfrancisco/news/details-chinese-sp...

I think this has been going on a very long time, it's just that these were politicians so I think everyone just brushed it off as "business as usual."

These guys are so rich they can hire beautiful prostitutes whenever they want. Looks alone are dime-a-dozen, in the end it's personality that counts (the latter notably also holds true for non-gazillionaires).
Yeah, someone like Huang probably has beautiful women throwing themselves at him all the time and it's quite possible that he's taken many of them up on the offer already, it's just never come out before. A man who has access to such abundance of beautiful women may over time become more interested in things like personality, if he wasn't already more interested in personality before -- there are some men who care more about personality from the start.
I like to believe Bezos was still being yelled at to take out the trash and for leaving dirty pancake batter bowls in the kitchen sink.
Implying that beautiful people can't work at McDonald's?
More like beautiful people are less likely to be into weird stuff probably.
Thats also wildly untrue
From observation, it seems Starbucks/High-end coffee chains attract easier looking staff. At the end of the day, you are going to get the higher paying job, and the higher paying job can afford to select the easier looking ones.
Not at all.

There is a more crude corollary to the theory that I chose to omit for decorum's sake:

P = P

Outside of your odd take on attraction, which is way more than looks alone...

There are memes that super-model looking women dating nerds are almost always spies of some sort. For this spy to have any chance at gaining real information she needed to have an actual relationship with Huang - which, see above, is more than looks alone.