This study explores the influence of deepfake technology on investor perceptions of corporate transparency, addressing the ethical dilemmas and potential benefits associated with synthetic media in corporate communication. By employing a quantitative research design, the study investigates how the use of deepfake technology in investor relations affects investor trust, perceived transparency, and overall satisfaction. The results indicate a significant positive relationship between the extent of deepfake usage and investor perceptions of transparency, with the impact moderated by ethical considerations. While deepfake technology can enhance investor engagement and communication efficiency, concerns regarding authenticity and potential manipulation remain central to investor trust. The study underscores the importance of ethical deployment and clear disclosure when utilizing deepfake technology, as transparency plays a pivotal role in shaping investor confidence. The implications for corporate governance highlight the need for a balanced approach to technological innovation, where deepfakes are integrated transparently and responsibly into corporate communication strategies. Future research could further investigate the long-term effects of synthetic media on investor decision-making and corporate reputation, providing deeper insights into the evolving role of AI in corporate governance.