Megaspeed

Treasury Secretary Scott Bessent says the Commerce Department, led by Howard Lutnick, has stalled adding Singapore‑based Megaspeed to the U.S. export blacklist despite support from the Treasury, Pentagon, State Department and USTR. Megaspeed, an Nvidia customer, is accused of routing $7.5 billion of advanced AI chips to China, a claim the company denies. The Justice Department is probing the firm, and senior White House officials are debating whether Lutnick should be removed.

Jensen Huang has resigned as Nvidia president, chief executive and board member, and Colette Kress is named interim CEO. U.S. intelligence officials suspect his affair partner, Alice Huang, a former Megaspeed executive, was recruited by China's intelligence service, a claim Beijing denies. Huang said on 8 Nov he had been unfaithful to his wife of more than 40 years. Nvidia's board has opened an independent investigation and says it has no evidence company secrets were leaked. Nvidia reports a loss of about $450 billion in market value since the resignation.

Singapore's Ministry of Home Affairs has barred Alice Huang, a former Megaspeed executive, from re-entering the country and issued her a stern warning. The ministry said the investigation did not concern espionage. Singaporean authorities had held her passport for eight months after seizing it in June 2025. Investigations into Megaspeed and six other individuals, begun in February 2025, remain ongoing. In the United States, Attorney General Todd Blanche said the Justice Department has not reached a conclusion on whether she was a Chinese spy. A fifth person faces 41 charges in a related fraud case involving servers that may have held Nvidia chips.

Nvidia's board has opened an independent inquiry into whether a foreign intelligence service targeted CEO Jensen Huang. U.S. authorities are probing Singapore-based Megaspeed over suspected shipments of restricted Nvidia chips to China, with reports citing at least $7.5 billion in chips moved. Nvidia says it has found no evidence of illicit chip transfers. Megaspeed denies wrongdoing, says it will cooperate with U.S. investigations and has retained a U.S. law firm to census its graphics processing units. China dismissed the spying allegations as smears.

Nvidia's board has opened an independent investigation into CEO Jensen Huang after reports that he had an affair with Alice Huang, a Singapore-based Megaspeed executive whom U.S. intelligence services link to Beijing's espionage. Nvidia shares fell more than 4 percent on Monday, 9 Nov, and kept declining on Tuesday. President Donald Trump said the FBI is investigating, and no one has been charged. Nvidia said it has no reason to believe national security or company secrets were compromised. The company has retained former acting U.S. Attorney Joon H. Kim to lead the inquiry.

Nvidia says it found no basis for a New York Times report that Alice Huang, also known as Huang Le, a former senior executive at Singapore-based data centre firm Megaspeed, passed information to Chinese intelligence and had ties to CEO Jensen Huang. The report says U.S. intelligence monitored her over suspected diversion of advanced AI chips to China and that President Donald Trump was briefed about a year ago but chose not to act. China's Foreign Ministry spokesman Guo Jiakun dismissed the report as groundless speculation. Trump said on 31 Oct that the United States is examining the matter and that he would keep Huang as an adviser unless evidence suggests otherwise.