What did Nvidia's board say about the alleged spy plot?

Nvidia's board, which has launched its own investigation, says it has "no reason to believe that either national security or Nvidia secrets were compromised."

What is Megaspeed's connection to Nvidia?

Megaspeed is a major Pacific region player in cloud services focused on advanced computer chips and a major customer of Nvidia. Bloomberg reported its subsidiaries purchased billions of dollars worth of Nvidia chips, and an audit found it couldn't initially account for some 50,000 chips.

How has Nvidia's stock performed?

Nvidia's stock rose about 600 percent over the past five years, becoming the world's second-most valuable company, but has plummeted by a quarter in the past month.

AI Stocks & MarketsAI Business & IndustryWIRED AI54m agoNov 12, 2026, 01:00 JST

Jensen Huang alleged target of Chinese spy plot via Megaspeed executive

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3 Key Points

What happened
The New York Times reported Jensen Huang allegedly had an affair with Alice Huang, a one-time Megaspeed executive US intelligence believes was a Chinese asset, starting between 2024 and 2025.
Why it matters
Nvidia's board says it has "no reason to believe that either national security or Nvidia secrets were compromised," but the stock has plummeted by a quarter in the past month and lawsuits loom, including by its own shareholders.

WHO IT HITSNvidia shareholders face a stock down by a quarter in the past month and looming lawsuits, while Trump administration officials may face questions from the newly Democratic congress about when they were briefed on the intelligence threat.

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Context & Analysis

The scandal arrives at a delicate moment for Nvidia. Jensen Huang has successfully lobbied the Trump administration to loosen Biden-era export restrictions on advanced chips, and the two have developed a uniquely close professional relationship—Huang donated $25 million to Trump's ballroom project, and Trump awarded him a National Medal of Science earlier this fall. That closeness now cuts both ways: The Times reported that Marco Rubio briefed Trump in May, right before Huang joined the President on Air Force One for a trip to China, raising questions about what the administration knew and when.

Megaspeed's role as a major Nvidia customer complicates matters further. Reports have circulated for at least a year that the US was concerned Megaspeed was diverting chips to Chinese intelligence agencies—an allegation with potentially massive consequences for the global AI race. Bloomberg reported that an audit requested by the US government last year found Megaspeed couldn't initially account for some 50,000 chips it had purchased.

Corporate America's tolerance for CEO misbehavior has shrunk dramatically in recent years, with executives at Nestlé, Kohl's, BP, NBCUniversal, and Norfolk Southern all resigning or being forced out after inappropriate relationships. Whether Nvidia follows that pattern may depend on the board investigation and the lawsuits that loom—though it's not even clear this will rank as the biggest scandal of the month.

FAQ

What did Nvidia's board say about the alleged spy plot?: Nvidia's board, which has launched its own investigation, says it has "no reason to believe that either national security or Nvidia secrets were compromised."
What is Megaspeed's connection to Nvidia?: Megaspeed is a major Pacific region player in cloud services focused on advanced computer chips and a major customer of Nvidia. Bloomberg reported its subsidiaries purchased billions of dollars worth of Nvidia chips, and an audit found it couldn't initially account for some 50,000 chips.
How has Nvidia's stock performed?: Nvidia's stock rose about 600 percent over the past five years, becoming the world's second-most valuable company, but has plummeted by a quarter in the past month.

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