Nvidia: Everything was where it should be

Detailed summary

On June 24, 2025, officers of the US Bureau of Industry and Security ran a voluntary post-shipment verification at Megaspeed, a data-center company – a check intended to establish…

On June 24, 2025, officers of the US Bureau of Industry and Security ran a voluntary post-shipment verification at Megaspeed, a data-center company – a check intended to establish whether restricted chips are where buyers said they would be.

Alice Huang, a figure at the center of the investigation, was present. That same day, Singapore’s police interviewed her as part of their own investigation and impounded her passport. Singapore’s Ministry of Home Affairs confirmed much of this on the record this week. A chipmaker’s assurance is no substitute for a regulator’s check.

Alice Huang, no relation to Nvidia’s founder, is a Hong Kong businesswoman. Singapore’s government describes her as Megaspeed’s then-chief executive, chairperson and key controller. Bloomberg notes she never held that title on paper, and Fortune reports that corporate filings list her as a director and managing director in 2023.

American intelligence officials suspect her of being a Chinese intelligence asset, and Secretary of State Marco Rubio circulated a memo about it this spring, according to press reports. China calls the allegation “entirely groundless.”

Singapore’s findings, published this week, cut both ways: its police and prosecutors found insufficient evidence in February to charge her over the company’s declarations, yet assessed that she had knowingly given inaccurate information to downplay her role – earning her a stern warning and a bar on re-entry.

She was not investigated for espionage. Nobody has been charged with spying. Treat the suspicion as unproven; nothing in what follows depends on it.

On Thursday, Jensen Huang resigned as president, chief executive and director of Nvidia, effective immediately. He had run the company since co-founding it in 1993 and never named a successor.

The finance chief, Colette Kress, becomes interim CEO, and the board has appointed its first-ever chairman. The company’s statement offered no reason for the move.

The news coverage will dwell on the affairs –…

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