Nvidia stock falls 5% as scrutiny turns to Jensen Huang’s relationship with alleged Chinese spy

According to Forbes, Jensen Huang, the world's eighth wealthiest individual, admitted to having an affair with a woman named Alice Huang. A secret U.S. report from months ago alleged that Alice, who is not related to Jensen, was a Chinese spy. Photos circulating online in June 2024 depicted the couple together at a bar in Taipei, Taiwan, after attending a local technology show.

They were seen drinking whiskey with other prominent figures in the AI industry on multiple occasions. Alice reportedly worked as a television reporter in China before becoming a senior executive at Megaspeed, a Singapore-based data center company that is one of Nvidia's largest customers in Southeast Asia. The two were photographed together again in May 2025 after a business dinner with AI suppliers.

A video from the same event shows Alice smiling broadly behind Jensen as he jokes with local reporters. Alice's background is described as someone fluent in English with ties to several executives in the AI chip industry. Born in China, she has worked as a reporter at Hunan TV, CCTV, and has held various roles at HSBC's private banking division and CITIC Securities.

In 2023, Megaspeed split from 7Road, a Chinese online gaming company, and began building data centers in Southeast Asia. The company has been buying Nvidia chips worth over $4.8 billion over the past two years. Megaspeed is suspected of assisting Chinese companies in circumventing U.S. export restrictions and smuggling Nvidia chips into China.

U.S. authorities have been investigating these allegations, but no evidence has been presented to establish Jensen's knowledge of Alice's alleged intelligence activities. U.S. electronic surveillance identified the Nvidia CEO as one of her contacts. Despite these allegations, Nvidia maintains that Jensen's interactions with Alice are not suspicious and are part of his job as a CEO, meeting with thousands of customer executives annually.

The company also refuted claims that its technology had been diverted through Megaspeed, stating that the allegations were thoroughly investigated and debunked last year. Jensen Huang is married to Lori Mills Huang, and they have two children who both work at Nvidia.