A network of companies linked to Chinese businesswoman Alice Huang allegedly helped procure at least $7.5 billion worth of Nvidia chips for Chinese firms, according to The Information. Alice is suspected by US intelligence of being a Chinese intelligence asset.
BY PC Bureau
November 10: A web of companies operating across China and Singapore allegedly helped channel at least $7.5 billion worth of Nvidia chips to Chinese businesses, with the network reportedly linked to the company’s chief executive Jensen Huang and a Chinese businesswoman suspected by US intelligence of working for Beijing.
The findings, reported by The Information on Tuesday, have added a new dimension to the controversy surrounding Huang’s alleged relationship with Alice Huang. According to the report, Alice, her husband and her sister established a network of companies to acquire Nvidia chips.
The case has also raised questions about possible national security implications and the close relationship between Huang and US President Donald Trump.
Senator Chris Coons, a Democrat from Delaware, has called for answers about the matter and the influence of major technology executives on government policy.
READ: Manipur Horror: Gorkha Woman Loses Leg in Landmine Blast
“We need answers about the relationship between Artificial Intelligence (AI) billionaires and the Trump administration, who’s making these decisions, and who’s really got their hand on the wheel,” Coons said.
Trump has stood by the Nvidia chief. He said he had spoken to Huang, who told him he had “absolutely no idea” that Alice was allegedly a Chinese spy. Trump has also confirmed that the FBI is investigating the case.
The controversy first gained prominence last month when The New York Times reported that Huang had been involved in a relationship with Alice, a former executive at Singapore-based data centre company Megaspeed International. US authorities reportedly investigated her and concluded that she was an asset of Chinese intelligence, allegedly passing information to Beijing.
ONE BET IN A BAR. $2 BILLION IN CHIPS. ONE AFFAIR. AND THE MAN BEHIND A $4.5 TRILLION COMPANY IS NOW IN A SPY FILE. 🕵️♀️
Taipei, June 2024. Computex week. a little after midnight. 🍸
a Chinese businesswoman, Alice Huang, bets a table of tech executives she can get Nvidia’s CEO to come.
not long after, Jensen Huang walks in, sits down and drinks whiskey with them. 🥃
(same surname. no relation.)who is she? 👇
📺 ex-reporter for Chinese state TV, then private banker, then a Shanghai fund.
🏢 2023: takes over a small Singapore company and renames it Megaspeed.
🇺🇸 US intelligence concluded she was recruited by China’s Ministry of State Security. per the NYT, her assignment was him.
🇨🇳 China calls it “groundless speculation.” she has never been charged.💰 the money:
📦 ~$2 BILLION of Nvidia’s most advanced chips went through Megaspeed’s Malaysian arm.
🥇 Bloomberg called it the single largest buyer of Nvidia chips in Southeast Asia.
👥 its Singapore office on a weekday: two employees.
📦 inspectors in Malaysia found equipment still in its original boxes.
☁️ one customer: Alibaba. a way to use chips China isn’t allowed to buy.
📸 she reportedly raised money for Megaspeed by posting photos with Jensen.🎯 what Beijing allegedly wanted:
not chip designs. it wanted to know Nvidia’s plans, what Jensen tells the White House, and to push Washington to let China buy better chips.
and in public, Jensen was already the loudest voice for selling chips to China:
🔓 2025: licenses come back, US takes 15% of sales
🔓 H200 cleared for China, US takes 25%
nobody has shown she had anything to do with it. 🤐⚠️ the warning that never came:
🗂️ US agencies watched her for about a year. in her file, the hidden name was his.
🏛️ Trump was briefed about a year before the story broke. no action.
🛡️ other targets get a “defensive briefing.” Jensen reportedly never got one.💔 the betrayal:
Oct 29: the story breaks. Jensen calls the Megaspeed deals “normal and not unusual.” 🙂
10 days later, an email to every Nvidia employee:
“I was unfaithful to my wife. My actions hurt her and our children. There is no excuse for what I did.” 💔
married to Lori since 1985. they met as lab partners in college.📉 what it does to Nvidia:
🔻 stock down 4%+ on the news, ~5% more on Monday after the confession
🔻 a 4-5% drop on a ~$4.5T company = roughly $200 BILLION
🔍 the board opens an independent probe with outside lawyers. says no secrets were lost, backs him to stay.
🏛️ Congress wants him in a closed room on Nov 18. Nvidia reports earnings on Nov 17.
👤 and no public plan for who replaces him.from $200 in a Denny’s booth in 1993 to the first $5 TRILLION company in history. 🚀
and the biggest risk turned out not to be China, chips or rivals.
it was one bet in a bar. 🍸honeytrap or just a scandal? 👇
— ZeroX (@zeroxX_o) November 10, 2026
Huang subsequently acknowledged in an email to Nvidia employees on Sunday that he had been unfaithful to his wife, Lori Huang. He said he took “full responsibility” for his actions.
Nvidia’s board has meanwhile launched an independent investigation to determine whether its CEO was targeted in a foreign intelligence operation.
The allegations have also weighed on the company’s stock. Nvidia shares plunged nearly 8% to $171.80 at the opening of trading on Monday, according to the BBC. They fell by a further nearly 5% on Tuesday, as investors assessed the fallout from the controversy.
The New York Times, citing people familiar with US intelligence surveillance, reported that Alice was allegedly recruited by China’s Ministry of State Security, Beijing’s principal civilian intelligence agency. The suspected operation was aimed at gathering information about Huang and potentially influencing his position on sales of advanced AI processors to Chinese companies.
The Financial Times separately reported that a US intelligence assessment had characterised the relationship between the two as romantic.
The allegations remain unproven in public. Reuters said it could not independently verify the intelligence claims. Beijing has rejected them, with Chinese Foreign Ministry spokesperson Guo Jiakun describing the accusations on November 9 as unsubstantiated and a smear campaign against China.
