Megaspeed pledges cooperation with U.S. probe as Nvidia faces widening fallout over CEO scandal

Singapore-based tech firm Megaspeed stated on November 12, 2026, that it takes its duty to follow U.S. export control rules extremely seriously and will work constructively with the U.S. government. The company sits at the centre of an escalating controversy surrounding Nvidia CEO Jensen Huang. US President Donald Trump's Treasury Secretary Scott Bessent reportedly challenged Commerce Secretary Howard Lutnick last week in the Situation Room over the Commerce Department's unwillingness to flag Megaspeed as a national security risk. Alice Huang, a top executive at Megaspeed and a suspected Chinese spy who allegedly had an affair with Jensen Huang, has drawn intense scrutiny. US officials believe Chinese intelligence recruited her due to her access to the semiconductor chief. Meanwhile, Beijing's foreign ministry has denied all espionage claims. Jensen Huang also faces internal and external investigations after reports revealed his past affair with Alice Huang and a newer relationship with Kimberly Powell, Nvidia's vice president of health care. Republican House representatives have requested a closed-door briefing with the Nvidia CEO on November 18. Nvidia's board of directors is weighing the future of its leader as shares plummeted sharply in after-hours trading, with the company losing nearly $300 billion in market value.

Context

Nvidia is a dominant global semiconductor company known for designing advanced chips that power artificial intelligence systems. High-tech trade between the United States, Taiwan, and China is subject to strict export controls due to national security concerns over critical technologies. Corporate governance rules also require strict oversight when executives face conflicts of interest or security risks.