Jensen and Alice share the same surname, but not related. Their last name – Huang – is purely coincident. However, they are now at the center of an explosive controversy after Jensen Huang – known as the “Taylor Swift of Tech” – admitted in an employee memo to an extramarital affair with Alice Huang. The scandal was so earth-shattering that Nvidia shed about US$430 billion in market value over two trading sessions.
Nvidia board of directors has launched an investigation into reports that Chief Executive Jensen Huang – also known as the business baron in a leather jacket – became a Chinese spy target while having an affair with a client. Jensen’s admission of infidelity sent not only the internet abuzz on Monday (Nov 9), but also shock and disbelief among Nvidia users over the stunning revelations about the tech billionaire’s private life.
It was not any ordinary extramarital affair. By Tuesday (Nov 10), the controversy escalated on several fronts as allegations emerged that Huang’s relationship with 42-year-old Alice Huang aided at least US$7.5 billion in Nvidia chip shipments to China and that U.S. Secretary of State Marco Rubio had previously briefed President Donald Trump on the affair aboard Air Force One en route to China in May. It has now become a political scandal.
Senate Democratic Leader Chuck Schumer demanded answers from the administration and tighter curbs on chip exports to China, while Republican US Senator Kevin Cramer from the Senate Banking Committee called on Huang to step down as CEO. “The potential for extortion is so tremendous that something as sensitive as Nvidia chips, I just think he’s got to go,” – said Cramer.
The affair has turned the Nvidia co-founder’s personal conduct into a broader risk for Nvidia, raising questions about the company’s governance and its dependence on the CEO who has led it for more than three decades and built it into the dominant supplier of AI chips. He owns about 3.6% of the company – but does not have majority voting control.
The FBI is investigating whether 63-year-old Huang – with an estimated net worth of about US$148 billion, placing him as the 12th wealthiest person in the world according to Bloomberg Billionaire Index – was targeted by a foreign intelligence operation. Nvidia has said its board has no reason to believe U.S. national security or company secrets were compromised.
Of course, China’s foreign ministry has said the spy accusations are “groundless” and rejected allegations of Chinese espionage linked to Nvidia CEO Jensen Huang’s affair, calling it a smear campaign against Beijing. The focus, however, has turned more to Alice Huang, rather than Jensen Huang, Nvidia, or Donald Trump.
Alice Huang, also known as Huang Le, along with her husband (Kang Wei or Jiang Wei) and sister, built a network of companies across China and Singapore to acquire Nvidia chips. Kang Wei first met Jensen Huang in the 2010s during business dealings in the gaming and tech sectors, and he is said to have originally introduced Alice Huang to Jensen Huang.
Interestingly, Kang – a fund manager who took over Zhonghai Fund at the age of 32 – has faced multiple regulatory penalties in China for capital market and disclosure violations. In early 2026, the man who established Shanghai-based investment firm Hexie Investment was placed under criminal coercive measures and detention by Shanghai police over allegations of stock manipulation involving listed companies.
Mainland financial news outlet Caixin revealed that Alice has worked as a core shareholder and senior executive at Shanghai Hexi Investment Management since 2015. She also co-managed multiple private equity funds alongside Kang. The business partner-turned-romantic couple has created an interconnected web of companies to conduct corporate takeovers and invest in businesses.
When orders for Nvidia chips subject to U.S. export restrictions stalled thanks to Trump’s tariff war on China, Alice Huang used ties to Nvidia to secure supplies – helping move about 240,000 H100, H200 and some A100 chips into China. Some of the chips ultimately served Alibaba, Tencent and smaller Chinese AI labs.
Besides her senior roles at a Shanghai investment firm, she is also the Managing Director and a controlling shareholder of Singapore-based cloud-computing company Megaspeed International, which was linked to Century Litong, a China-based company that secured preferred cloud partner status with Nvidia in 2023 – giving it priority access to the company’s chips.
Megaspeed, which is created as a spinoff of Chinese company 7Road Holdings, was first incorporated in Singapore in 2015. Ownership was transferred to Huang Le Limited in March 2023, before changing hands again in November later that year, when it was acquired by newly incorporated Swiftdata. Swiftdata subsequently became Megaspeed’s registered shareholder, with its owner, Tan Yong Pong, taking over as the company’s sole director.
Several U.S. government agencies have pushed for Megaspeed to be included on the entity list, a trade blacklist of groups connected to China that U.S. officials say pose national security risks, but the US Commerce Department was delaying efforts to blacklist the company. Apparently, the Commerce Department had sought more information about some companies under consideration.
Speaking to Bloomberg News on Oct 30, Jensen Huang described Nvidia’s dealings with Megaspeed as “normal and not unusual” and said that the company had checked that Megaspeed did not illegally divert Nvidia AI chips to China. “We’ve studied all their deployments of our GPUs and counted every one,” – Huang told Bloomberg.
The Wall Street Journal (WSJ) published a report on Oct 30, alleging that Alice Huang was suspected of having links to Chinese intelligence. U.S. intelligence assessments and memos indicated that Alice Huang was suspected of being recruited by China’s Ministry of State Security to gather intelligence on American artificial intelligence chips and influence Nvidia to make its advanced hardware more accessible to China.
Photos showed Alice Huang, wearing a pink dress, at an industry party with Jensen Huang back in June 2024 – during the Computex 2024 technology exhibition in Taipei. “At one point, Jensen Huang can be seen putting his arm around Alice Huang as she kisses him on the right cheek. They later leave the restaurant in the same car,” the AFP report said.
Both were photographed again in Taipei during a private dinner at an industry conference in May 2025. On December 8, 2025, Trump agrees to let Nvidia export a less powerful chip, the H200, directly to China in exchange for 25% of the sales going to the federal government. Despite the affair, Trump has defended Jensen, describing him as an “honorable guy” who had “done an amazing job for our country”.
Crucially, the woman accused of spying for China had used a Hong Kong passport to enter Taiwan, prompting the island’s immigration agency to investigate. It is generally easier for Hong Kong passport holders to enter Taiwan than those with mainland Chinese passports, who must also apply for special permission to travel there due to diplomatic hostility between China and Taiwan..
Taiwan’s Interior Minister Liu Shyh-fang told lawmakers in Parliament – “If we had known she was a spy, we certainly would not have let her enter Taiwan. We will review our procedures, specifically our pre-screening, interim spot checks and interviews, and post-visit measures. As far as we understand, this Ms Huang has had her permit revoked, meaning it is impossible for her to enter Taiwan again.”
The fallout also extended to South Korea, where Madison Huang, Huang’s daughter and an Nvidia executive, cancelled a planned visit to Seoul for an Nvidia conference that was supposed to begin on Monday (Nov 9). The burning question is how exactly a genius like Jensen could make a foolish mistake? Perhaps it’s due to a Chinese idiom – “Great heroes cannot escape from being seduced by beautiful women.”
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November 11th, 2026 by financetwitter
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