Nvidia's Former CEO Steps Down Amid Alleged Spy Scandal Involving China

Nvidia , the company behind the world’s most advanced chips and a market valuation of over $4 trillion, has been at the centre of an alleged spy scandal, leading to its former CEO, Jensen Huang, stepping down. But a loophole in the United States’ export controls may have allowed China to access the tech company’s most sensitive and cutting-edge technologies via Singapore-based cloud computing firm Megaspeed International, according to a CNN report. Headquartered in Singapore’s Marina Bay district, Megaspeed, which is an official cloud partner and a major customer of Nvidia, has expanded in the past three years from an inactive Chinese gaming subsidiary to one of Asia’s biggest buyers of semiconductors from America. Jensen, who admitted to having been unfaithful to his wife, Lori Huang, has been accused of having an affair with a suspected Chinese ‘spy’ Alice Huang, who worked as a top executive at Megaspeed. Amid mounting pressure and inquiries announced by Nvidia’s board and the FBI, Jensen announced on Thursday that he is stepping down from all the roles in the company with immediate effect. The US Congress has also called Jensen to testify behind closed doors about his relationship with Alice, whom US intelligence agencies believe was “spying” on behalf of Chinese intelligence agencies. However, Beijing has called the espionage allegations a “groundless” attempt to smear China. The corporate documents have reportedly revealed that Chinese executive Alice Huang, or Huang Le, played a vital role in establishing Megaspeed. The cloud computing firm discreetly infused billions of dollars of Nvidia chips in data centres across Southeast Asia. This is where Megaspeed came under the spotlight of inspection by the Singaporean government and US officials, who were concerned that the firm was passing the Nvidia chips to illegal Chinese buyers. However, the US export control measures have restrained China from accessing its most advanced semiconductor technology, which led to the birth of a shadow industry with complex transactions, chip smuggling, and shell companies. Megaspeed is under investigation for its alleged role in enabling such an industry, CNN reported. On Sunday, Megaspeed said that Chinese businesswoman Alice officially left the company on August 30, 2025, and has no current role there. “Megaspeed is aware of recent media reports containing assertions about our business, supply chain and global operations that are not supported by verifiable evidence,” the statement said. Megaspeed CEO Tan Yong Pong, in a statement on Thursday, had said, “Megaspeed takes its compliance obligations under US export control laws extremely seriously. Compliance is a fundamental priority for the company, and Megaspeed is committed to working constructively and transparently with the US government.”