Alice Huang’s Journey: From Chinese Finance to Nvidia AI Chip Controversy
By Wen-Yee Lee, Andrew Silver and Laurie Chen
The Rise and Scrutiny of Alice Huang in Global Finance and AI
TAIPEI/SHANGHAI/BEIJING, Nov 10 (Reuters) - Alice Huang built a career in Chinese finance before emerging in a very different arena: the global race for artificial-intelligence chips.
Background and Early Career
Known also as Huang Le, the Chinese businesswoman held senior roles at a Shanghai investment firm before becoming the controlling shareholder of Singapore-based cloud-computing company Megaspeed International, according to more than 30 publicly available financial records, corporate filings and company materials reviewed by Reuters.
Megaspeed and Nvidia Partnership
Nvidia lists Megaspeed as an official cloud partner on its directory. Megaspeed attracted public attention in October 2025, when the New York Times reported the company was under US investigation over whether it was helping Chinese customers obtain advanced Nvidia chips subject to Washington's export controls.
Alice Huang has since been thrust into the spotlight because of her links with Nvidia CEO Jensen Huang. The two are not related.
Allegations and Investigations
The New York Times reported last month that US authorities had concluded she was a Chinese intelligence asset who passed information to Beijing while developing a close relationship with the Nvidia CEO.
Reuters could not independently verify the intelligence allegation, which China has denied. Reuters could not determine Alice Huang's whereabouts to seek comment.
Nvidia's board has launched an independent investigation into reports that its CEO was targeted by a foreign intelligence operation, but said it had no reason to believe national security information or company trade secrets had been compromised.
US President Donald Trump said on Monday that the FBI was also looking into the matter, but he did not provide further details.
Without commenting directly on Alice Huang, Jensen Huang acknowledged on Sunday being unfaithful to his wife, but said he was committed to supporting US national security.
From Shanghai Finance to Nvidia Chips
Alice Huang, reported by Chinese financial publication Caixin to be about 42 years old, previously worked in banking and investment management, according to Chinese fund-industry records and an indexed profile on private-fund database Simuwang, which also listed an earlier career in television journalism.
Before her involvement with Megaspeed, she held senior positions at Shanghai Hexi Investment Management, a Chinese investment firm.
Roles at Hexi and Other Financial Institutions
Several posts on Hexi's official WeChat account between 2016 and 2017 identified her as the firm's deputy general manager, executive director and a member of its investment decision committee and said she had previously worked at HSBC's private bank in Hong Kong and at CITIC Securities. HSBC and CITIC did not immediately respond to requests for comment.
A Hexi business card reviewed by Reuters identified Alice Huang as a partner and general manager, with an office in Shanghai's Lujiazui financial district. At the Aurora Plaza address listed on the card, Reuters found offices undergoing extensive renovation, with no Hexi signage or staff present. Calls to a number on the card went unanswered, and an email address could not receive messages.
Megaspeed’s Expansion and Regional Influence
Huang became Megaspeed's controlling shareholder in March 2023, according to Washington-based research group C4ADS, which reviewed corporate records. Incorporated in Singapore in 2015 as 7Road International, Megaspeed provides cloud-computing services and describes itself on its company website as an Nvidia business partner in the Asia-Pacific region.
Huang also served as a director and managing director of Megaspeed's Indonesian subsidiary from March to November 2023, C4ADS said. Megaspeed did not respond to a request for comment.
At a party hosted by Taiwanese server manufacturer Gigabyte during the 2024 Computex technology trade show, Alice Huang and Jensen Huang were both present, according to a person who attended. A photograph posted on LinkedIn showed them seated next to each other.
Gigabyte, which makes AI servers using Nvidia chips, did not respond to a request for comment.
Business Ties Under Scrutiny
Megaspeed has drawn scrutiny from US authorities over suspicions that it helped Chinese companies obtain advanced Nvidia chips subject to Washington's export restrictions, but there has been no public finding that it violated the rules.
Export Controls and Hardware Shipments
Shipping records from trade-data provider ImportGenius reviewed by Reuters show Megaspeed's Indonesian subsidiary imported Nvidia hardware between 2024 and 2026, including H100 processors and related components, in shipments from suppliers including Gigabyte subsidiary Giga Computing.
The H100 is among the advanced Nvidia processors restricted from export to China, although the shipments to Indonesia do not themselves establish any violation of US export controls.
Ownership Changes and Ongoing Influence
Megaspeed's shares were transferred in late 2023 to Singapore-based SwiftData, which holds all 10 million of its ordinary shares, according to C4ADS. Reuters could not immediately contact SwiftData.
C4ADS said it could not determine who ultimately controls SwiftData, but assessed that Alice Huang may have continued to exercise influence over Megaspeed after the transfer, citing appearances in which she was identified as its chair.
Seeking Answers
The reports of ties between Alice Huang and Jensen Huang have prompted US lawmakers to seek answers from the Nvidia CEO.
Key Questions and Industry Reactions
Central questions include whether he knew of any alleged intelligence activity and whether sensitive information was compromised, said George Chen, a partner at consultancy The Asia Group.
"In many respects, Jensen may also be viewed as a potential victim if he was deliberately targeted or manipulated without knowledge of the individual's true identity or intentions," Chen said.
The US chipmaker h
