'The China Problem': Stock Researchers Identified Nvidia CEO Jensen Huang's Troubling Relationship 6 Months Ago

John MACDOUGALL/AFP/Getty Nvidia’s board of directors said Sunday it has opened an investigation into whether CEO Jensen Huang was a “target of a foreign intelligence effort,” following reports questioning his relationship with a Singapore-based executive tied to China. This was not surprising news to Culper Research, a short-selling firm that identified Huang’s troubling relationship in a report it released back in May. The New York Post reports that the Nvidia board’s inquiry comes six months after a May 2026 report from the New York short-seller firm Culper Research, titled “NVIDIA (NVDA): The China Problem,” which examined ties between Nvidia CEO Jensen Huang and Alice Huang, an executive at Singapore-based tech company Megaspeed. Culper Research, founded by Christian Lamarco in 2019, alleged that Megaspeed was secretly financed by Alibaba through what it called “apparent shell companies.” Megaspeed has been under scrutiny before over claims it diverted Nvidia chips to China in violation of US export controls. The Singapore-headquartered company has denied the allegations, and site inspections by Nvidia and US officials reportedly found no evidence of violations. Megaspeed has said there is “no evidence” behind the claims and described itself as “a compliant and legitimate company.” A secret State Department memo based on electronic surveillance of Alice Huang, reported by the New York Times, alleges she was recruited by China’s Ministry of State Security. The memo claims she worked to gain Jensen Huang’s favor partly through purchases of billions of dollars’ worth of Nvidia chips for AI data centers in the Middle East and Southeast Asia. Culper’s report leaned on photographs of the two together: one from COMPUTEX in Taipei in June 2024, where Jensen Huang sat next to Alice Huang, and another from a dinner at a Taipei restaurant on May 22nd, 2025. It also cited a current Megaspeed employee who said Jensen “visits Megaspeed-linked data centers ‘every few months'” and that “every single time” he visits, he is accompanied by representatives from Alibaba. A Megaspeed employee described the relationship between the company and Huang as “very close.” Culper created an X thread when it released its report showcasing much of its evidence: An anonymous former Nvidia employee told the short-seller “that many Nvidia employees wondered if there was a special relationship” between Jensen Huang and Alice Huang. In its statement Sunday, Nvidia’s board said independent counsel and directors would carry out the investigation, and that the company retains confidence in Huang’s leadership. “The Board prioritizes US national and economic security, which is paramount to the interests of NVIDIA and its shareholders,” the board said. It added, “While the Board has no reason to believe that either national security or NVIDIA secrets were compromised, the Board’s inquiry will examine all available information.” Read more at the New York Post here. Lucas Nolan is a reporter for Breitbart News covering issues of AI, free speech, and online censorship.