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Nvidia stock crash: Short seller flagged Jensen Huang’s close ties to Alice Huang months before CEO’s resignation

By · Published by Everything Blog

In short

The board launched an independent investigation after Jensen Huang admitted to an extramarital relationship with former Megaspeed executive Alice Huang, who media reports indicate was suspected by U.S. intelligence of transferring information to Beijing. Chief Financial Officer Colette Kress has stepped in as interim chief executive while the company searches for a permanent successor. The controversy brings renewed focus to earlier warnings from short seller Culper Research regarding supply chain routes potentially funneling computing hardware to Chinese buyers. Nvidia has maintained that it has no reason to believe its proprietary trade secrets or national security have been compromised.

Key points

  • Jensen Huang has stepped down from all executive duties and the board following his admis…: Jensen Huang has stepped down from all executive duties and the board following his admission of infidelity and subsequent national security scrutiny.
  • Investigators and short sellers are scrutinizing whether Southeast Asian intermediaries r…: Investigators and short sellers are scrutinizing whether Southeast Asian intermediaries routed advanced computing capacity to Chinese clients around export curbs.
  • Both Nvidia and Singapore-based data center operator Megaspeed have denied any wrongdoing…: Both Nvidia and Singapore-based data center operator Megaspeed have denied any wrongdoing or compromise of national security secrets.

Sources checked by our analysis pipeline: 1

A short-seller report published six months before Jensen Huang’s sudden resignation as Nvidia’s chief executive and president had already raised questions about his unusually close relationship with Alice Huang, the former Megaspeed executive now at the centre of a controversy involving alleged Chinese espionage and the chipmaker’s supply chain.

The May 13 report by Culper Research, titled The China Problem, questioned Jensen Huang’s association with Alice and examined Megaspeed’s role in the movement of Nvidia-powered servers through Southeast Asia.

It highlighted photographs of the two together at public events in Taiwan in 2024 and 2025 and cited a current Megaspeed employee describing the company’s relationship with the Nvidia chief as “very close”.

The report did not allege that the two were having an affair, nor did it identify Alice Huang as a spy. Those allegations emerged in subsequent media reports, which said US intelligence officials suspected her of passing information to Beijing. Jensen Huang later admitted to being unfaithful to his wife, prompting Nvidia’s board to launch an independent investigation into the national security concerns.

The controversy culminated on Thursday,…

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