Nvidia’s China Chip Link

It's Benzinga, bringing Wall Street to Main Street. NVIDIA CEO Jensen Huang's alleged affair with a Chinese businesswoman suspected of spying for Beijing facilitated shipments of at least $7.5 billion in NVIDIA chips to Chinese companies, according to Reuters. The information reported the story on Tuesday, citing two people familiar with Alice Huang. Alice Huang and her family reportedly built a network of companies in China and Singapore to acquire the chips. Shanghai Century Litong, a company at the center of the network, secured preferred cloud partner status with Nvidia in October 2023, gaining priority access to its chips. Alice Huang reportedly used her ties to Nvidia and its distributors to secure about 240,000 chips for shipment to China after orders stalled due to U.S. export restrictions. NVIDIA did not immediately respond to Reuters' request for comment. Alibaba, Tencent, Megaspeed, and Shanghai Century Litong were unavailable for comment outside regular business hours. NVIDIA shares closed down more than 4% on Monday after its board launched an investigation. The FBI is also investigating the matter. For all things money, visit Benzinga.com.