Alice Huang, also known as Huang Le, an executive being investigated by the US over Chinese spying, pitched an AI chips deal to investors based in China, touting her ability to acquire Nvidia’s in-demand GPUs and her relationship with Alibaba, the reported.

The report comes after Nvidia chief executive Jensen Huang on Sunday admitted to having an affair with Alice Huang, whom US officials reportedly believe was recruited to spy for China’s Ministry of State Security intelligence agency.

In early 2025 Alice Huang and her business partner Kang Wei sought investment for a data centre project in south-east Asia worth several hundred million dollars, the reported, citing two investors pitched on the deal.

The two reportedly said they had “no problem securing GPUs” as a key part of the deal and said Alibaba was a client for the project.

Alice Huang reportedly did not disclose any close relationship with Jensen Huang during the investment pitch or in her regular business dealings.

Her business partner Kang Wei also serves as on the board of state-backed Guilin Bank, the report said.

Megaspeed, with whom Alice Huang is previously believed to have been a key executive, similarly used its connections with Alibaba to grow its business, the report said.

Alibaba’s Singapore subsidiary Apex Enterprise Solutions lent money to Megaspeed via its Malaysian subsidiary Speedmatrix in June 2024, with Speedmatrix reportedly pledging its entire business as collateral.

During 2024, Megaspeed’s balance sheet reportedly grew from $33 million (£24.5m) to $3bn, much of which was based on the dealings of its subsidiaries in south-east Asia.

Spying probe

Alibaba was Megaspeed’s anchor customer for its south-east Asia cloud service from the beginning and has remained its largest client, according to the report.

One person told the that Nvidia had first met Megaspeed to discuss potential procurement because of the company’s leasing contract with Alibaba.

The US began investigating Megaspeed in 2024 when the company began importing billions of dollars’ worth of Nvidia chips into Malaysia to build data centres for Chinese clients, probing whether some of those chips were making their way into mainland China in violation of US sanctions, according to reporting by Bloomberg and the .

China’s Foreign Ministry denied the spying allegations.