As AI stocks slid on concerns about infrastructure costs and uncertain returns, the New York Times reported that U.S. intelligence agencies concluded Alice Huang, an executive at Singapore-based data center company Megaspeed suspected of helping China obtain restricted Nvidia chips, was also gathering intelligence for Beijing. Surveillance reportedly showed she had a close relationship with Nvidia CEO Jensen Huang, raising concerns about access to sensitive information. President Donald Trump was briefed on the findings roughly a year ago but chose not to act, according to the Times, citing concerns about disrupting Nvidia's chip sales and China trade relations. Megaspeed's Malaysian affiliate purchased at least $4.8 billion in AI equipment containing Nvidia chips between June 2024 and February 2026, according to trade records cited by the Times. Nvidia said its dealings with Alice Huang were ordinary business and that customers such as Megaspeed receive no sensitive trade secrets or national-security-relevant information.
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NVDAsemiconductorsartificial intelligenceChinaDonald TrumpJensen Huang
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Related tickers and likely impact
NVDA
▼ Likely negativeNvidia
Relevance: high
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.1T |
| Close on 10/28/2026 | 215.39 |
| Change that session | -1.17% |
QQQ
▼ Likely negativeInvesco QQQ Trust
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/28/2026 | 725.59 |
| Change that session | +0.60% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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