Nvidia’s stock opened down over 6% on Thursday after CEO Jensen Huang publicly acknowledged a romantic relationship with Singapore‑based entrepreneur Alice Huang, whose company Megaspeed has been implicated in a scheme that may have circumvented U.S. export restrictions on advanced AI chips destined for Chinese users.

Alleged export loophole through Megaspeed

According to a report by Protos, Megaspeed imported at least 136,000 Nvidia GPUs—including the Blackwell models barred for export to China—into Singapore, Malaysia and Indonesia between 2022 and 2025, valued at roughly $4.6 billion. The hardware was then reportedly leased to Chinese firms such as Alibaba, allowing them to access high‑end AI compute despite U.S. curbs introduced by President Biden in October 2022.

Corporate and governmental response

Nvidia said an internal review found no evidence of diversion and affirmed compliance with all export rules, while Megaspeed denied wrongdoing, citing inspections by U.S., Malaysian and Nvidia officials. The company’s board has launched an independent probe into Jensen Huang’s conduct, and three members of the U.S. House of Representatives requested a briefing on the matter on November 18, according to the same source.

Legislative action and future scrutiny

A bill introduced in the House earlier this year, titled “Legislation to Limit Adversaries’ Remote Access to Critical Technology,” passed the chamber in January and aims to close the loophole that allowed bulk purchases of AI chips before a May 2025 deadline. The legislation reflects growing bipartisan concern over technology transfer to China, a concern heightened by the Megaspeed allegations.

What to watch next

Investors and analysts will monitor the outcome of Nvidia’s internal investigation, any potential enforcement actions by the U.S. Department of Commerce, and the progress of the pending export‑control legislation. Further disclosures about the extent of the alleged chip routing could also influence Nvidia’s market performance and its relationships with Southeast Asian partners.