Trump: FBI probing NVIDIA's Jensen Huang leak; Alice Huang spy link denied

The FBI scrutiny of suspected leaks of NVIDIA and Jensen Huang information to China's government comes against a backdrop: Washington restricted AI chip exports to China in 2022, and Jensen Huang later called the chip export control policy a failure. NVIDIA's China share fell from 95% to 50% over four years, and after meetings with Trump and U.S. policymakers, licenses for NVIDIA and AMD China-bound chips were announced around July 2025. Those interactions, along with attendance at White House events, are described as having built a close relationship between Jensen Huang and Trump.

The share move is also tied to October 2025 reporting: The New York Times reported on a close relationship between Jensen Huang and an executive of Megaspeed, a company under investigation over suspected AI chip sales to China. Around October 12, when the relationship with Megaspeed's Alice Huang was reported, NVIDIA's stock decline steepened, according to the CNBC chart cited. Democrats winning control of Congress in the U.S. midterm elections also weighed heavily on tech stocks as investors reassessed data-center construction plans.

Separately, Jensen Huang had tied up with Heller, a crisis communications firm known for scandal response, as of October 2025. People familiar said Heller was initially thought to handle his private life, especially family philanthropy, but the timing of the New York Times report on Megaspeed has raised the possibility that the contract was for handling the affair matter.