One eagle-eyed trader warned of the “uncomfortably close” relationship between Nvidia CEO Jensen Huang and suspected Chinese spy Alice Huang months before their illicit affair was revealed.
Culper Research published a report titled “NVIDIA (NVDA): The China Problem” in May 2026, which warned of concerning rumors about Nvidia’s chief executive and the executive at Singapore-based Megaspeed.
While the short-seller’s report didn’t openly accuse the Nvidia chief of having an affair, it did allege Megaspeed was secretly financed by E-commerce giant Alibaba through a series of “apparent shell companies.”
“Finally, per one current Megaspeed employee, Jensen visits Megaspeed-linked data centers ‘every few months’ and ‘every single time’ he visits, he is accompanied by representatives from Alibaba,” the report read.
The report claimed another Megaspeed employee characterized the company’s relationship with Jensen as “very close.”
An anonymous former Nvidia employee told the short-seller that “that many Nvidia employees wondered if there was a special relationship.”
Megaspeed previously faced scrutiny after allegations that it had diverted Nvidia chips to China in breach of US export controls.
Megaspeed, which is headquartered in Singapore, has denied the allegations, saying site inspections by Nvidia and US officials had found “no evidence” of violations and that it was “a compliant and legitimate company”.
According to a secret memo from the US State Department, Alice was recruited by China’s Ministry of State Security (MSS), Beijing’s spy agency.
Here’s the latest on the Nvidia CEO’s affair with an alleged Chinese spy:
She helped get into Jensen Huang’s good graces through purchases of billions of dollars in Nvidia chips for AI data centers in the Middle East and Southeast Asia, according to the report.
The months-old memo on Alice was based on electronic surveillance of her, according to the New York Times.
On Sunday, Nvidia’s board announced it launched a probe into whether Jensen was a “target of a foreign intelligence effort,” but said it still has confidence in his leadership.
“The Board prioritizes US national and economic security, which is paramount to the interests of NVIDIA and its shareholders,” the company said.
“While the Board has no reason to believe that either national security or NVIDIA secrets were compromised, the Board’s inquiry will examine all available information,” it added of the investigation, which will be conducted by independent counsel and directors.
Culper Research, is based in New York and was founded by Christian Lamarco in 2019.