Asked whether he still has confidence in Nvidia CEO Jensen Huang as a US technology policy adviser following reports of the executive’s ties to a suspected Chinese operative, President Donald Trump said, “I would like to say yes. I mean, unless we find out something to the contrary.” Trump added that he has always found Huang “to be very above board,” while noting that “you’re dealing in a very complex issue.”
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Jensen Huang also addressed the matter in an interview with Bloomberg News, saying his interactions with former Megaspeed executive Alice Huang were “completely normal and not unusual” and typical of his meetings with Chinese customers and executives. He noted that she is no longer with Megaspeed and that Nvidia and US authorities had reviewed GPU deployments to check for illegal diversion to China. Chinese Foreign Ministry spokesman Guo Jiakun rejected the espionage allegations as “groundless speculation” and “purely a smear against China.”
The responses follow a New York Times report that US intelligence agencies concluded Alice Huang was a Chinese asset passing information to Beijing while maintaining a close relationship with the Nvidia chief, who was identified during electronic surveillance through an unmasking process. Trade records cited by the Times show a Malaysian affiliate of Singapore based Megaspeed bought at least $4.8 billion of AI equipment containing Nvidia chips between June 2024 and February 2026.
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Story, if it plays out
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The most likely outcome is that Trump’s comments remain tactical rather than the start of a formal break with Nvidia. The White House continues to value Nvidia’s role in AI leadership and the 25% revenue-sharing arrangement for H200 China sales.
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Trump’s hedging gives cover for a temporary review of the December 2025 H200 sales approval. This scenario does not assume a full export-control reversal, but it delays shipments and increases uncertainty around Nvidia’s China revenue.
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A harder-line faction inside the administration uses the Chinese spying allegation to reopen the broader AI-chip export debate. This would represent a material sector policy shock, though still short of a macro crisis.
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The investigation moves away from Nvidia governance and toward Chinese intelligence activity. This lowers the risk of direct punishment for Nvidia but may still leave U.S.-China technology relations tense.
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