Memo claims Megaspeed exec spied on Nvidia boss Jensen Huang for China

A memo that made the rounds earlier this year alleges that technology executive Alice Huang was recruited by China's Ministry of State Security to spy on Nvidia CEO Jensen Huang, according to multiple media reports. The New York Times was first to report on the memo, which was reportedly built on US intelligence. The Financial Times followed with its own detail: the memo also claimed Jensen Huang and Alice Huang, an executive at Singapore-based Megaspeed, were romantically involved.

Nvidia isn't treating it as a scandal. A company spokesperson told the NYT that Jensen Huang's interactions with Alice Huang were 'not unusual,' and stressed that Nvidia does not hand classified information to its customers. That's the core of the company's defense — whatever the relationship, the trade secrets stayed inside the building.

The NYT had already reported that Nvidia's chief executive was a target of Chinese intelligence, so the memo adds names and specifics to an existing thread. Megaspeed, the Singapore company where Alice Huang works, is now squarely in the spotlight. Neither the spying allegation nor the relationship claim has been confirmed beyond the memo and the outlets that described it.

There's a second front in the same reporting. A separate NYT piece looked at New Matrix, a Chinese company the US Commerce Department authorized to buy advanced Nvidia chips. When reporters showed up at the office address New Matrix listed, they found only what the paper described as 'a hollow gray shell' — raising worries it could be a front for a blacklisted private equity firm.

Nvidia pushed back on the broader suggestion that it ships its crown jewels overseas. The spokesperson said the company sells 'the first, best and most of our technology in America.' For a chipmaker sitting at the center of the US-China tech standoff, that line is doing a lot of work.

So far, no charges, no confirmed findings — just a memo, a paper trail and a lot of questions about who was watching whom inside the AI boom's most important company.