Jensen Huang, Alice Huang and Megaspeed: What the Spy Report Says

What did the New York Times report?

The New York Times reported on Thursday, 29 October 2026, that US intelligence officials had determined that a senior Chinese executive at a Singapore-based data center company had been delivering information to Beijing ^[1]. The report names her as Alice Huang or Huang Le ^[1]. It says she was being monitored over possibly steering AI chips to China ^[1].

According to the report, she had developed a close working relationship with Nvidia CEO Jensen Huang ^[1]. SCMP, which cites the same report, says she had approached him and tried to develop a close business relationship ^[2].

The report also says US President Donald Trump was briefed on the intelligence about a year earlier but decided not to act ^[1].

Does the report accuse Jensen Huang of spying?

The sources do not accuse him of spying. Some headlines describe him as the target of a suspected spy ^[2]. The sources checked do not show that he knew of, or took part in, any intelligence activity.

The two share the Huang surname. Gigazine, which covered the 2025 New York Times reporting, says they share similar names but "are not related" ^[3]. It also reports that the Times described Alice Huang and Jensen Huang as close friends ^[3].

What happened to Nvidia and Jensen Huang on 5 November?

Jensen Huang's estimated net worth fell $15.1 billion to $150.9 billion on 5 November 2026. That pushed him from ninth to 13th place on the Bloomberg Billionaires Index ^[6]. Nvidia shares closed at $181.60, down 9.3% from $200.13 the day before. It was their biggest one-day decline since January 2025 ^[6].

The sell-off hit nearly every large technology fortune. Elon Musk lost $79.7 billion and Larry Ellison lost $10.1 billion that day ^[6]. The reporting puts the cause in worries about AI data center spending. Investors sold chipmakers and other companies tied to data center construction, on concern that Democrats, after gains in the midterm elections, would move to slow that build-out ^[6]. The reporting does not link the drop to the spy report.

What is Megaspeed, and what has been alleged?

Bloomberg describes Megaspeed International Pte. as the once-obscure spinoff of a Chinese gaming enterprise. In less than three years it became the single largest Southeast Asian buyer of Nvidia chips ^[4]. GIGAZINE says the company is based in Singapore, has a subsidiary in Malaysia, and advertises servers built on Nvidia's B200 and GB200 chips ^[3].

In October 2025, the New York Times reported that more than six people connected to the US Commerce Department said Megaspeed was under investigation for allegedly circumventing US regulations by shipping AI chips to China ^[3]. Singapore police were also reported in October 2025 to be investigating the company ^[3], and the sources checked include no later update.

Gigazine also reports that when the Times visited Megaspeed's Singapore office, it found only two employees there, even on a weekday, and that the company's funding source is unknown ^[3]. These are allegations, and the sources checked report no charges.

Could Megaspeed be linked to the Chinese government?

The sources checked do not show that the Chinese government owns or controls Megaspeed. The links they describe run through company ownership.

Thairath, relaying Bloomberg, says Megaspeed was split off from 7Road Holdings, a Chinese gaming company, five months after the US chip controls under President Joe Biden ^[5]. Before the split, 7Road sold the Singapore unit to a British Virgin Islands company, Huang Le Ltd. ^[5]. Thairath says Huang Le Ltd. was controlled by Huang Le, whom it calls Megaspeed's founder ^[5]. Euronews says the executive was named as Alice Huang or Huang Le ^[1]. No source says whether the executive and the founder are the same person.

In November 2023, Huang Le Ltd. sold Megaspeed to a Singapore shell company owned by Tan Yong Pong, who is now Megaspeed's chief executive. Four days after that sale, Megaspeed was named an Nvidia Cloud Partner ^[5]. Thairath also reports that Megaspeed had about $5.7 million in cash at the end of 2023, while its Nvidia purchases were thousands of times larger, and that the company has not explained how it paid for them ^[5].

Nvidia says its internal review found no evidence of chip diversion, and that Megaspeed has no Chinese shareholders ^[5]. Megaspeed says it is based in Singapore and follows all applicable laws, including US export controls ^[5]. The Singapore government has confirmed that it is checking whether Megaspeed broke local law, without naming the law ^[5]. Thairath, relaying Bloomberg, also says US authorities are examining Megaspeed's ownership structure and whether it may have smuggled chips into China ^[5].

These are ownership links and open questions, not proof of state control. Whether any chips reached China is not settled in the sources checked.

How have Nvidia and China responded?

Nvidia said Jensen Huang's interactions with Alice Huang are "not unusual or unexpected" ^[1]. It said Megaspeed was no different to other regional customers, and that its regional cloud customers receive "ordinary business information" rather than "sensitive NVIDIA trade secrets" ^[1]. Nvidia also said that allegations the company smuggled chips to China were "thoroughly investigated and debunked last year" ^[1].

China rejected the report. Foreign ministry spokesman Guo Jiakun said it was "based on groundless speculation" and was "purely aimed at smearing and slandering China" ^[2].

What should readers take from this?

Treat the spy claim as an allegation. The reporting names one executive and links her to Megaspeed ^[1]. It does not establish that Jensen Huang knew of any intelligence activity. The chip diversion claim against Megaspeed is also unproven in the sources checked. Nvidia says the smuggling allegations were debunked, and Beijing rejects the report ^[1].

The November 5 sell-off is a separate matter. The reporting attributes it to worries about AI data center spending and does not link it to the spy report ^[6]. The open questions are whether Megaspeed's chip purchases match its size, and whether any of those chips reached China.