The controversy surrounding Nvidia chief executive Jensen Huang has taken another turn following revelations that Alice Huang, the Chinese businesswoman with whom he admitted having an affair, previously had a relationship with financier Kang Wei, who was introduced to business associates as her husband.
Kang, who has faced allegations of insider trading and regulatory violations, reportedly worked closely with Alice Huang to build an investment network spanning several technology companies.
The latest revelations have raised further questions about the businesswoman’s connections, her dealings with Chinese investors and the circumstances surrounding her relationship with the Nvidia boss.
Alice Huang and Kang Wei Built a Business Partnership
According to the Financial Times, Kang Wei established private equity firm Hexi Capital in 2010, with Alice Huang joining the company in 2015.
The investment firm subsequently developed interests in several technology sectors, including gaming and data centres.
However, its operations attracted regulatory attention in 2018 when the company was fined $2.6 million over disclosure violations and illegal trading during a restricted period associated with the takeover of Huiqui Technology.
Kang was personally fined $60,000 over the violations, according to documents obtained by the New York Post.
The company was also fined by the China Securities Regulatory Commission last year for failing to disclose an insider stake in an acquired business.
Despite the regulatory action, Kang and Alice Huang reportedly continued building a network of interconnected companies involved in corporate acquisitions and business investments.
Financier Was Introduced as Her Husband
The New York Times reported that Kang, 51, was presented as Alice Huang’s husband during meetings with Chinese investors and employees of her company, Megaspeed.
People familiar with the pair told the publication that Kang frequently highlighted Alice Huang’s connections to Nvidia founder Jensen Huang when meeting potential investors.
One source said the financier used those connections to help attract funding for their business ventures.
By spring 2020, their business network had secured a significant project involving the construction and operation of an artificial intelligence computing centre in Shanghai for Chinese internet giant Tencent.
The project helped position the pair as entrepreneurs in the rapidly expanding artificial intelligence industry.
Alice Huang Publicly Displayed Her Connection to Nvidia CEO
The timeline of Alice Huang’s relationship with Jensen Huang remains unclear, but reports suggest she was openly discussing their closeness with industry executives by June 2024.
At a computer industry trade show in Taipei, Alice reportedly told a group of executives that Jensen was a close friend before texting him to join them at a bar.
According to sources cited by the Wall Street Journal, the Nvidia chief arrived just minutes after receiving her message.
Wearing his trademark leather jacket, Huang reportedly spent time with the group, where he was photographed sitting closely beside Alice.
The pair were also seen together during another visit to Taipei in May 2025.
The Wall Street Journal reported that they attended a dinner where they were observed kissing each other on the cheek and touching one another’s arms.
Other photographs that have emerged show the two sitting beside each other, smiling and raising wine glasses in a toast.
Businesswoman Pitched AI Chip Investment to Chinese Investors
In early 2025, Alice Huang reportedly approached China-based investors with a proposal involving artificial intelligence chips.
Two investors who were presented with the opportunity told the Financial Times that she promoted her ability to secure Nvidia’s highly sought-after graphics processing units.
She also highlighted her commercial relationship with Alibaba while seeking funding for a Southeast Asian data centre project valued at several hundred million dollars.
However, she reportedly did not disclose her relationship with Jensen Huang during the investment discussions.
US Officials Investigated Alleged Links to Chinese Intelligence
The businesswoman’s activities had also attracted the attention of American authorities.
According to the New York Times, US officials were briefed that Alice Huang was allegedly working for China’s Ministry of State Security.
The suspected operation reportedly involved gathering information about American-made artificial intelligence chips and potentially persuading Nvidia to make its most advanced semiconductors available in China.
Officials noted that Alice Huang spoke English fluently and maintained relationships with senior executives across the artificial intelligence chip industry.
Separately, American authorities were investigating Megaspeed over concerns that the company might have been involved in smuggling hardware into China.
The concerns prompted the US government to ask Nvidia to audit the company last year.
Nvidia initially reported that the hardware had been fully accounted for.
However, records obtained by Bloomberg News reportedly showed that Megaspeed had imported 50,000 more chips than Nvidia identified in its data centres.
The chipmaker subsequently pledged in December 2025 to conduct another visit to Megaspeed’s facilities.
It remains unclear whether that inspection took place.
Nvidia Launches Internal Investigation After Affair Revelation
The controversy intensified after Jensen Huang admitted in a memo to Nvidia employees on Sunday that he had been involved in an affair with Alice Huang.
The 63-year-old CEO did not disclose when the relationship began.
Nvidia, however, maintained that it was unaware of any investigations involving Megaspeed or Alice Huang.
The company also said it had no reason to believe that national security or its confidential business information had been compromised.
It confirmed that an internal investigation had been launched to examine all available information, adding that Huang supported the move.
Shareholders Sue Nvidia and Its Chief Executive
Nvidia and Jensen Huang were sued by shareholders on Monday following the revelations.
The lawsuit accused the defendants of misleading investors about the affair before the controversy contributed to a decline in the company’s share price.
Nvidia shares fell 4.3 per cent by the close of trading on Monday, wiping approximately $190 billion off its market capitalisation.
The legal action adds another challenge for the technology giant as it faces questions about its executive leadership and potential national security implications surrounding its business relationships.
Marco Rubio Reportedly Warned Trump Officials About the Relationship
The revelations have also drawn attention to Jensen Huang’s relationship with the Trump administration, where he has become an influential figure because of Nvidia’s central role in the development of advanced artificial intelligence.
The New York Times reported that Secretary of State Marco Rubio was aware of Huang’s alleged relationship with Alice Huang as early as spring 2026.
Rubio reportedly supervised the preparation of a highly classified memo warning senior Trump administration officials about the Nvidia chief’s connection to the suspected Chinese spy.
The document was based on classified intelligence gathered through electronic surveillance of Alice Huang.
A person familiar with the matter told the publication that Rubio circulated the warning shortly before President Donald Trump’s planned visit to China.
Huang was initially excluded from the list of technology executives invited to accompany Trump on the trip.
However, it remains unclear whether the decision was connected to Rubio’s memo.
The Nvidia CEO eventually joined the president’s delegation.
Trump Defends Nvidia Boss Despite Allegations
Rubio’s reported warning also raised concerns among some officials about Huang’s potential influence on the administration’s approach to artificial intelligence regulation.
Despite those concerns, the Nvidia chief continued appearing alongside Trump on several occasions.
Trump publicly defended Huang on Sunday after being questioned about the affair.
Describing the technology executive as a fine and honourable person, the president said he was not concerned about the revelations.
“He’s done such an incredible job… He’s a fine person in my opinion,” Trump told reporters.
He added that Huang probably had an explanation for the situation and said his contributions to the country should also be considered.
The president’s comments came as the controversy surrounding Huang’s personal relationship, Alice Huang’s alleged intelligence connections and Nvidia’s business dealings continued to unfold.
