Spies and silicon chips: Alice Huang’s tangled corporate web

Singapore-based tech conglomerate Megaspeed once dealt in cutting-edge AI chips worth billions of dollars, yet its office in the heart of the city's business district was an empty shell when AFP visited. The company's former director, Alice Huang, has been revealed as a suspected Chinese spy, accused of stealing company secrets for Beijing while having an affair with Nvidia co-founder Jensen Huang.

Huang's background is shrouded in mystery, with little information available about her personal life, such as her place of residence, employment, or birthdate. However, her influence stretches across Singapore, Southeast Asia, and Silicon Valley.

Megaspeed positions itself as a leader in the AI revolution, utilizing Nvidia's advanced silicon chips to power high-performance computing in its data centers. Yet, it is also under scrutiny for its alleged role in helping Beijing bypass trade restrictions by smuggling Nvidia chips into China. Despite Beijing's denial of spying allegations, Megaspeed is currently under investigation for potential breaches of export controls regarding these sensitive chips.

The Singapore police launched an inquiry into Megaspeed and several other companies suspected of circumventing or violating export controls in February 2025. Huang was questioned as part of this probe but was never charged and subsequently barred from entering Singapore. Her barred entry was due to her failure to provide accurate information about her involvement in Megaspeed, according to Singapore's home ministry.

Huang's entry into the tech scene was marked by a rapid rise. A company linked to her acquired the Singapore arm of Chinese video game developer 7Road International in early 2023, and Megaspeed quickly became one of Asia's largest purchasers of Nvidia chips. In just a year, Megaspeed's revenue surged from zero to nearly US$300 million, with the company's assets ballooning from $32 million to nearly $3 billion. Megaspeed reportedly facilitated over $4 billion worth of Nvidia chip transactions.

Financial records suggest that Megaspeed's success might have been facilitated by connections to Chinese tech giant Alibaba. A Malaysian subsidiary of Megaspeed struck a deal with Apex Enterprise Solutions in Singapore as collateral for potential contract violations, with Apex linked to Alibaba through its parent company in the Cayman Islands. By 2024, Huang was no longer listed as a director of Megaspeed, but she remained a "key controller" according to Singapore authorities.

Swiftdata, a Singapore holding company, is Megaspeed's ultimate holding entity. Tan Yong Pong, a Singapore businessman with prior experience in printing and graphic design, serves as a director of both Megaspeed and Swiftdata. Neighbors near Tan's registered address reported that he and his family have been absent for months, adding an air of mystery to the enigmatic figures behind Megaspeed.