Short-Seller Warning Preceded Reports of Nvidia CEO Jensen Huang’s Ties to Alleged Chinese Operative

Adam Johnson, portfolio manager at the Bullseye American Ingenuity Fund, maintains that Nvidia stock remains a buy even as the company’s board investigates CEO Jensen Huang. In his view, the chipmaker’s growth prospects outweigh the fallout from the executive scandal.

Long before reports emerged about an affair between Nvidia CEO Jensen Huang and alleged Chinese intelligence asset Alice Huang, a short seller had flagged what it described as an “uncomfortably close relationship” between the two.

In May 2026, Culper Research published a report titled “NVIDIA (NVDA): The China Problem.” While the document stopped short of directly alleging an affair, it highlighted the close ties between Huang and Alice Huang. The report further claimed that Megaspeed, the Singapore-based chip procurement firm where Alice Huang worked, received financing from Alibaba through a network of shell companies.

“Nvidia CEO Jensen Huang has not only vouched for Megaspeed, but appears to have walked alongside the firm at every step, while maintaining an uncomfortably close relationship with Megaspeed’s Alice Huang, a Chinese national,” Culper Research wrote.

Culper Research—named for the spy ring organized by George Washington during the American Revolutionary War—said it had taken a short position in Nvidia due to the company’s close ties to China, set against rising U.S. geopolitical tensions and export controls designed to keep advanced AI chips out of Chinese hands.

NVIDIA CASE UNDERSCORES RISKS OF ALLEGED ‘HONEYPOT’ SCHEMES TARGETING CORPORATE EXECUTIVES

A photograph released on June 7, 2024, shows Nvidia CEO Jensen Huang alongside a woman identified by a Reuters source as Alice Huang in Taipei, Taiwan. (Obtained by Reuters)

The report asserted that Chinese companies continue to obtain Nvidia’s advanced semiconductors through diversions involving other buyers across Southeast Asia. It also noted that Nvidia has endorsed Megaspeed, described as the largest purchaser of Nvidia chips in Southeast Asia, which has drawn scrutiny from U.S. regulators and authorities in Singapore.

Concerning Huang’s relationship with Alice Huang, the report said the two were seen together in June 2024 and May 2025. According to one Megaspeed employee, “Jensen visits Megaspeed-linked data centers ‘every few months,’ and ‘every single time’ he is accompanied by representatives from Alibaba.”

NVIDIA STOCK DECLINES FOLLOWING INVESTIGATION INTO CEO’S TIES TO ALLEGED CHINESE SPY

Video footage obtained on November 9, 2026, and reviewed by Reuters, shows a woman identified as Alice Huang attending a dinner with Nvidia CEO Jensen Huang at a restaurant in Taipei. (CTI via Reuters TV)

The report quoted a Megaspeed employee describing the company’s ties to Jensen Huang as “very close,” lending support to a former Nvidia employee’s account that colleagues had questioned whether a special relationship existed.

Jensen Huang acknowledged over the weekend that he had been “unfaithful to my wife” and said he was “deeply sorry” for his conduct. He did not provide further details about the relationship.

Huang added that he had fallen short of his obligations to Nvidia and expressed a desire to regain the confidence of everyone connected to the company.

CHINA REJECTS ALLEGED SPY PLOT AGAINST NVIDIA CEO JENSEN HUANG, LABELING CLAIMS A ‘SMEAR’

Nvidia CEO Jensen Huang ranks among the most influential figures in global technology. (Kevin Dietsch/Getty Images)

In his statement, Huang acknowledged the national security concerns raised by reports concerning his relationship with Alice Huang. He pledged full support and cooperation with the board of directors’ independent investigation, saying, “I love our country and our company. I am committed to protecting Nvidia and supporting America’s national security.”

Nvidia’s board has launched an independent investigation led by a committee of independent directors and assisted by independent outside counsel.

“While the Board has no reason to believe that national security or Nvidia secrets were compromised, the inquiry will examine all available information,” the directors said in a statement.

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