Just as Nvidia, the world’s biggest chip company, is facing a widening controversy over allegations that a Chinese businesswoman who had a sexual relationship with its founder and chief executive, Jensen Huang, was a suspected spy, further scrutiny has been raised about the company’s business relationship with Singapore-based data center company Megaspeed, concerning what Huang knew, as a shareholder lawsuit has emerged.
The controversy broke through when Nvidia’s board announced it was investigating a possible spy probe it believed targeted its CEO, Huang.
That announcement followed a letter sent Sunday by Huang to Nvidia employees, in which he admitted to being unfaithful to his wife:
“I was unfaithful to my wife. My actions hurt her and our children. There is no excuse for what I did. I am deeply sorry.”
But Jensen Huang’s email did not address whether the woman he cheated on his wife with was Alice, or whether he was aware that she was a spy.
Huang, now 63, met his wife, Lori Mills Huang, in 1980, when she was 19, while they were electrical engineering students at Oregon State University. The CEO founded Nvidia more than three decades ago. The couple have two children, and both now work at Nvidia.
The CEO, Huang, later expressed his support for the board’s investigation:
“I love our country and our company. I am committed to protecting NVIDIA and supporting America’s national security,” the CEO said Sunday.
The central allegation is that Alice Huang, also known as Huang Le, built a close relationship with Jensen Huang while U.S. officials suspected her of working for Chinese intelligence.
Based on surveillance and people briefed on classified intelligence, U.S. officials alleged that Alice Huang was gathering information for Beijing and the information she gathered helped steer advanced Nvidia chips to China. Those assessments have not been publicly confirmed by U.S. authorities, and Relish Wire News could not immediately confirm the underlying evidence either.
The New York Times previously identified Alice Huang as a former executive of the Megaspeed company.
Singaporean authorities, last year, questioned Alice Huang and later released her as part of an investigation into suspicions that chips bought by Megaspeed had reached China illegally.
China has since rejected the intelligence allegation:
“The so-called Chinese spy allegation is unsubstantiated. It is nothing but smears against China,” Foreign Ministry spokesperson Guo Jiakun said at a routine briefing on Nov. 10:
Nvidia shareholder Mark Kistenmacher has filed a securities class action against Nvidia and Jensen Huang. The argument is that investors were denied material information about a business relationship that later became central to national security concerns and reputational risk.
In trading on Sunday, Nvidia shares fell $7.97, or 4.27%, to close at $178.67, wiping about $190 billion in market value, and the suit was filed five minutes after the market closed. The complaint seeks unspecified damages.
The FBI is now fully involved in the matter, as it has now started its investigation.
Asked Monday by press during the White House briefing, Trump referred to the FBI in ambiguous terms:
“I know the FBI is looking into it in terms of something else, and I think that he’ll be in good shape.”
The president added that Huang had told him he had no knowledge of the alleged spy activity: “He said he had absolutely no idea that the person in question was a spy.”
The FBI has declined to comment publicly.
But, roughly a year ago, U.S. officials had briefed Trump about the suspicions around Alice Huang; their report stated they didn’t believe Jensen Huang knew she was allegedly a spy.
Although it is unclear whether officials still hold that view and some senior administration officials doubt he could have been unaware given how close the relationship was.
Megaspeed is central to why the allegations have corporate and national security implications beyond the personal relationship.
She VANISHED? Nvidia Spy Row: The Full Picture Alice Huang, a Megaspeed executive US officials reportedly believe was recruited by China’s MSS(Ministry of State Security) to get close to Jensen Huang, HASN’T BEEN SEEN in public as of Nov 10. Megaspeed isn’t a small client. It’s one of Nvidia’s biggest cloud partners in Asia and has reportedly bought around $4.8B of its chips. Now it’s under scrutiny in the US and Singapore. Jensen has admitted to an affair and apologized to his family, without naming her. Nvidia’s board is investigating and says no secrets were leaked. China calls it a smear.
— Rajat Jain (@RajatJain) November 10, 2026
The company has bought large quantities of Nvidia technology over the past two years, since Nvidia CEO Jensen Huang was first publicly photographed with the alleged spy, Alice Huang, and has prominently touted its partnership with Nvidia.
In a LinkedIn photo posted by NetThunder from June 2024 showing Alice Huang with Jensen Huang at a Taipei bar after the trade show. Megaspeed was then poised to buy about $2 billion of Nvidia technology over the following year.
Trade records later put the buying at about $4.8 billion in advanced AI equipment containing Nvidia technology by its Malaysian affiliate, Speedmatrix Sdn Bhd, between June 2024 and February 2026, while a separate analysis of Malaysian and Indonesian customs records put imports at at least $4.6 billion through November 2025, including at least 136,000 GPUs. Per The New York Times report.
Although shipments are reported to have begun a few weeks after the Taipei gathering, no exact start date has been established.
The U.S. Commerce Department officials had opened an investigation into whether Megaspeed is helping Chinese firms evade U.S. export controls, in an inquiry separate from a Singapore police investigation into whether the company breached local laws.
Nvidia has kept Huang in place. Spokesperson John Rizzo said:
“Jensen is committed to continuing to lead Nvidia as CEO without interruption.”
The leadership question extends beyond Huang. His two adult children both work at Nvidia in senior roles.
Madison Huang, Huang’s daughter, is a senior director of product and technical marketing for Nvidia’s physical AI platforms, covering Omniverse, Isaac robotics and related work.
Spencer Huang, his son, is a director and product line manager in Nvidia’s robotics group, focused on robotics software, Isaac Sim and related AI models.
Their employment is relevant to governance because the controversy concerns the chief executive, board oversight and management of a company whose leadership includes members of Huang’s family.
The board has expressed continued support for Huang while the inquiry proceeds:
“The Board has confidence in Jensen and his leadership team and will provide further updates as appropriate.”
