Intelligence investigations surrounding Nvidia Corporation intensified on Sunday as the company’s board of directors announced an inquiry into whether Chief Executive Officer Jensen Huang was targeted by a foreign intelligence effort, The Wire China reported.
The unfolding scandal involves Alice Huang, an investor also known as Huang Le, who rose through corporate restructuring deals before operating a Singapore-based data center partner that later purchased billions of dollars in servers containing advanced U.S. chips, according to corporate records cited by The Wire China.
U.S. and Singapore government authorities are investigating whether the firm, Megaspeed, smuggled restricted processors to China after export controls blocked direct shipments from manufacturers like Nvidia.
President Donald Trump stated on Monday that the Federal Bureau of Investigation is reviewing a matter related to Jensen Huang, adding that the Nvidia founder told him during a phone call he was unaware of any intelligence connections linked to Alice Huang, as reported by The Wire China.
Alice Huang Netted $145 Million from Osmanthus Vale Holdings Sale
Alice Huang’s ascent into high-stakes artificial intelligence infrastructure began with a series of transactions involving video game and cloud computing entities in offshore tax havens. According to a securities filing by 7Road Holdings, she netted $145 million in 2019 from the sale of her British Virgin Islands-based holding company, Osmanthus Vale Holdings Limited, The Wire China reported.
The sale occurred shortly after Osmanthus reported revenues had soared one thousandfold to $36 million in 2018, up from just $36,000 three years prior. The revenue surge followed the acquisition of Hangzhou Shengfeng Network Technology, a Chinese video game company purchased by a fund backed by Shanghai Hexi Investment Fund, where Alice Huang served as executive director, according to documents from the Asset Management Association of China.
Following the 2019 transaction, 7Road entered the cloud computing sector. When the United States Department of Commerce imposed sweeping export restrictions on advanced semiconductors in October 2022, 7Road spun off its Singapore subsidiary, 7Road International PTE, to a British Virgin Islands-registered firm associated with Alice Huang, which was subsequently renamed Megaspeed, The Wire China reported.
Megaspeed Acquired Billions in Nvidia-Powered Servers
Megaspeed served as a managing entity that acquired billions of dollars in Nvidia-powered servers before its shares were transferred in November 2023 to Swiftdata Pte, a Singaporean company directed by Tan Yong Pong, according to corporate records cited by The Wire China. By the end of 2024, Megaspeed’s assets expanded from $33 million to $3 billion.
Corporate filings show Alice Huang also served as a director of Shanghai Longjing Information Technology between 2021 and 2022. The Shanghai Municipal Government announced in May 2023 that Longjing would build a data center featuring 6,000 artificial intelligence server racks within a complex tied to Tencent, designed to deliver ten times the computing power of the world’s largest supercomputer according to the Songjiang District Government.
Desmond Shum, author and former associate of well-connected Chinese corporate figures, described Alice Huang as a “white glove,” an investor whose name appears on documents on behalf of other interests. Randal Phillips, a former Central Intelligence Agency Beijing station chief, told The Wire China that seducing foreign executives visiting China remains a primary tactic deployed by the Ministry of State Security to compromise private sector interests.
“The lion’s share of [MSS] resources were devoted to [compromising] private sector interests,” Phillips told The Wire China.
I’m pushing to investigate Jensen Huang and Nvidia to determine whether our national security was compromised. We need answers about the relationship between AI billionaires and the Trump administration, who's making these decisions, and who's really got their hand on the wheel.
Republican Leaders Requested Jensen Huang Testify at Closed-Door Briefing
Republican leaders of three congressional committees requested that Jensen Huang testify at a closed-door briefing scheduled for November 18, according to The Wire China.
“I’m pushing to investigate Jensen Huang and Nvidia to determine whether our national security was compromised,” Senator Chris Coons wrote on X on Monday, as reported by The Wire China.
Megaspeed issued a statement on Monday asserting there is “no evidence of any violations concerning the illicit transfer of chips or any illegal activities.” China’s foreign ministry denied through an official statement that Alice Huang ever worked for the Ministry of State Security.
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