US intelligence reportedly suspects China spy agency cultivated woman close to Nvidia's Jensen Huang

US intelligence believes China's spy agency got a woman close to Jensen Huang — the head of the world's most valuable company — and that the relationship turned romantic, according to the reporting.

The Business Connection

Her day job was buying his chips — nearly $2 billion worth — through a company that didn't exist until 2023.

The company, Megaspeed, spun out of a Chinese gaming company in 2023 and set up a subsidiary in Malaysia to handle the purchasing. The New York Times found more than 200 shipments of restricted Nvidia hardware going to that subsidiary between June 2024 and June 2025. A US export official showed up at its Malaysian data center in September 2024 to determine why a brand-new company was buying so much.

The Personal Connection

Once the orders were rolling, Alice Huang appeared in a LinkedIn post having drinks with Jensen and some Gigabyte executives. A year later, she is in photos standing directly behind him as he walks out of a restaurant in Taiwan.

Why Analysts Are Skeptical — and Why That May Be the Point

Many observers are shrugging off the allegations. Jensen has long sought access to China's market, arguing for years that walking away simply hands the business to Huawei, and he lobbied this year to sell H200s there. He didn't need anyone to talk him into it.

That is precisely what would make him a valuable target. As one framing puts it: if you run a spy agency, the easiest person to work on is someone who already agrees with you — all you have to do is stay close and keep him talking.

Proximity to Jensen carries value even if no secrets ever change hands. Blackwell chips are among the hardest things in tech to obtain right now, and a major customer gains both allocation and an early read on where the export fight in Washington is heading. Nvidia says Jensen meets thousands of customer executives a year and that nothing classified goes to customers — a fair point, but one that doesn't fully address the access question.

Inventory Discrepancies Raise Questions

The inventory numbers are arguably more troubling than the romance. Bloomberg reported that more than half of what Megaspeed bought were Blackwells, yet when Nvidia inspected its sites, it found only a few thousand on hand. Bain Capital's data center business quietly replaced Megaspeed as a tenant in Malaysia earlier this year.

Official Responses and Fallout

Megaspeed says every probe has cleared it, and Beijing calls the whole matter a smear. Nonetheless, the intelligence memo landed with a small group of senior officials shortly before Trump flew to Beijing to meet Xi, and three House committees are now requesting that Jensen appear for a closed-door briefing.

If the intelligence is accurate, China ran a spy operation that paid for itself: her day job was buying nearly $2 billion of the exact chips Washington has spent years trying to keep away from China — and those orders are what got her into the room.