Megaspeed says Alice Huan left the company in 2025 and launches internal investigation

The company distanced itself from the figure at the center of the scandal

Singapore-based Megaspeed, the largest buyer of Nvidia chips in Southeast Asia, said on Sunday that Alice Huan — the woman whom US intelligence agencies, according to media reports, consider a Chinese agent — officially left the company on August 30, 2025 and «currently holds no role in it». This was reported by BBC News, euronews and Anadolu, citing the company's statement. Huan had been the controlling shareholder of Megaspeed since March 2023.

Internal investigation and rejected allegations

At the same time, Megaspeed announced the launch of an internal investigation into its business. In its statement, the company said it was aware of publications «containing claims about our business, supply chain and global operations that are not supported by verifiable evidence», and that it «conducts legitimate and lawful activities». External lawyers have been hired for the investigation. According to Anadolu, citing CNBC, the company pledged to review media reports and, if necessary, inform stakeholders.

What Megaspeed is accused of

Megaspeed is suspected of providing Chinese companies with «backdoor access» to Nvidia chips through its data centers in Malaysia, Indonesia and Thailand; according to media reports, the company allegedly supplied high-performance AI chips to China through a network of shell firms and false declarations. These allegations have not been proven, and Singaporean authorities continue their investigation into Megaspeed and six other individuals. Nvidia is banned from selling its advanced chips to China; Singapore does not prohibit the transfer of such chips abroad, but such transactions may violate US export controls. Singapore said it does not enforce «unilateral export restrictions of other countries», but expects companies within its jurisdiction to respect such norms. Megaspeed claims it builds supply chain controls in line with «US export control requirements and local regulations» in all markets.

Contradictions over Huan's status

The American side and Singapore differ in their assessment of Huan's role. According to The New York Times, US intelligence officials consider her a Chinese agent; euronews reports that US intelligence agencies suspect her of ties to China's Ministry of State Security. However, Singapore's Ministry of Home Affairs stated directly in a November 12 statement that Huan was not investigated for espionage: the subject of the investigation was suspected offenses related to the purchase and export of servers, not ties to Chinese intelligence. According to US media reports, Singaporean authorities seized Huan's passport in June 2025, restricting her movement for eight months. China denies that Huan is a spy and warned the US not to use the scandal as a «pretext for a technological blockade» of AI technology.

The scandal that cost Nvidia its CEO

The scandal erupted after reports of an extramarital affair between Nvidia co-founder and CEO Jensen Huang and Alice Huan, as well as with one of the company's employees. On November 8, Jensen Huang admitted the affair, without naming Huan, and on November 12 he resigned, after leading the company for more than three decades. Since the story became public, Nvidia has lost nearly $2 trillion in market capitalization, although the direct link between these events, as euronews notes, remains unclear. Nvidia's board of directors said it sees no reason to believe that US national security or the company's trade secrets were compromised.

Political pressure in the US

The scandal has also reached the political level. On Friday, US Treasury Secretary Scott Bessent blamed Commerce Secretary Howard Lutnick for insufficient oversight of high-tech chip exports: according to him, several agencies had 'for months advocated adding Megaspeed to the entity list,' but 'the pen is with the Commerce Department.' The entity list restricts US trade with foreign companies and individuals. Lutnick has been called to testify before the Senate Banking Committee next month about his department's role in approving exports of advanced Nvidia chips, while other congressional committees have demanded that he and the department preserve all documents relating to Nvidia and Jensen Huang.

Image source, Reuters