IMPLICATOR
Kang Wei, a Chinese fund manager in his early 50s, founded Shanghai Hexi in 2010 and had known Jensen Huang for a decade when he introduced the then Nvidia chief to Alice Huang. The introduction was described in a Wall Street Journal investigation published Nov. 11.
Kang was Alice Huang’s husband, people who know the couple said.
Their business partnership developed over years of investments in China before they helped build Megaspeed, a Singapore cloud provider that gained preferred access to Nvidia chips. Newly released Singapore findings give a detailed account of the investigation into that company, including why authorities held Alice Huang’s passport and later allowed her to leave.
Singapore’s Ministry of Home Affairs said Nov. 12 that police found insufficient evidence to establish that she had committed any offenses relating to the possible inaccurate server-purchase declarations. They separately assessed that she knowingly supplied inaccurate information to downplay her role in Megaspeed, issued a stern warning and barred her from returning. Investigations into the company and six other people continue.
Jensen Huang is now Nvidia’s former chief executive. The company confirmed his resignation Nov. 12, effective immediately, from the presidency, chief executive’s job and board. Finance chief Colette Kress became interim chief executive while the board searches for a permanent successor.
The Business Behind the Relationship
- Kang Wei introduced Jensen Huang to Alice Huang, his wife, according to people who know the couple.
- Their investment business expanded from videogames to Megaspeed, which gained Nvidia Cloud Partner status in November 2023.
- Singapore found insufficient evidence Alice Huang committed server-declaration offenses. Its investigation into Megaspeed continues.
- Megaspeed has commissioned a GPU census and export-compliance review by a U.S. law firm.
AI-generated summary, reviewed by an editor. More on our AI guidelines.
The Shanghai investment business
Kang had been a fund manager before establishing Shanghai Hexi. Alice Huang, now in her late 40s, pursued a master’s degree in media management at Hong Kong Baptist University in the late 2000s, a graduate of the same program said.
Shanghai Hexi’s own posts from late 2016 and early 2017 described her as its vice general manager since November 2015, with previous roles at HSBC and Citic Securities. Reported corporate-registry findings place the couple co-running the firm from 2016. It invested in technology businesses, including videogames.
Those gaming investments supplied Kang’s connection to Jensen Huang during the 2010s. Nvidia then focused on chips for videogames. A former employee of one of Kang’s portfolio companies said he helped connect the two men in Asia.
The investment business also brought a regulatory penalty. In 2018, China’s securities regulator fined Kang and Shanghai Hexi over failures to disclose holdings in a Chinese pharmaceutical company and other violations during a takeover battle. Kang and the firm contested the findings at official hearings. The regulator rejected their arguments.
People who know the couple said Kang appeared to accept Alice Huang’s relationship with Jensen Huang over two years and spoke openly about their closeness. Sometimes he half-jokingly called her Jensen Huang’s personal assistant when speaking to associates, those people said. U.S. officials believe China’s intelligence services recruited Alice Huang as an asset because of her access to Jensen Huang. The available source material does not establish that Kang knew of intelligence activity or that Jensen Huang knowingly assisted it.
From videogames to rented computing
By the early 2020s, Kang and Alice Huang were moving into cloud computing. Through a company partly owned by a fund they ran, they developed relationships with large Chinese technology companies, people familiar with their dealings said.
In 2023, they acquired the Singapore unit of a videogame company in which they had previously invested. The unit, incorporated in 2015 as 7Road International, was renamed Megaspeed International in March 2023. Alice Huang became a director, and Kang worked with her to build the business, people familiar with it said.
The company’s ownership and management changed again that year. Megaspeed became wholly owned by Swiftdata, a Singapore company incorporated in October 2023. Reported filings show Alice Huang left her managing-director position on Nov. 10, 2023. Singapore’s investigation statement describes her as then-chief executive, chairperson and one of Megaspeed’s key controllers.
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Megaspeed was seeking customers that needed large amounts of computing power. Cloud customers rent access to computers in remote data centers, sending work over a network rather than buying and operating the machines themselves. AI developers use those computers to train models and run the software after training.
Alibaba was looking for access to Nvidia-powered computing outside China, people familiar with the negotiations said. The United States had begun imposing restrictions on advanced chip exports in late 2022, citing concerns about Chinese military and surveillance uses.
Megaspeed told Nvidia that Alibaba would be an anchor customer, those people said. A large committed buyer helped the company secure priority access to chips through Nvidia Cloud Partner status in November 2023. Shortly afterward, Alice Huang told an associate that she had contacted Jensen Huang and that Megaspeed would soon begin business smoothly.
The company took many of its Nvidia servers to data centers in Malaysia and supplied computing power to Alibaba, people familiar with the matter said. Chinese companies can rent computing power at overseas data centers without importing the processors, while the United States restricts physical exports of advanced chips to China.
People familiar with the matter said Megaspeed sent some servers into China, including to Shanghai cloud provider Century Litong, owned by a listed company with which Kang had done business. Megaspeed denies illegally diverting chips.
A rapid increase in assets
Megaspeed’s reported accounts show how quickly the business grew. Its assets reached about $3 billion in 2024, compared with $33 million in 2023; the asset values do not quantify illicit shipments. Revenue increased from zero in 2023 to $294 million in 2024, when it recorded a loss of about $20 million.
Kang and Alice Huang continued seeking money for expansion. Investors approached in Shanghai and Singapore said the pair pitched data-center projects between late 2024 and June 2025, including two in Southeast Asia and one in Shanghai. The prospective investors said the couple offered the possibility of tripling their money in three years and expressed confidence that they could bring Nvidia chips into China.
Alex Capri, a senior lecturer at the National University of Singapore Business School, expects closer scrutiny of companies offering AI computing for rent. He described remote access as a longstanding gap in chip export controls.
“I think we’re going to see a major crackdown on these cloud computing companies,” Capri said in a Nov. 11 interview.
Singapore’s investigation
Singapore’s official chronology starts in February 2025. Police and customs authorities began an independent investigation into several companies and their officers, including Megaspeed and its controllers, over potential false declarations connected with server purchases and related suspected offenses.
The ministry said the investigation did not begin at another country’s request. Alice Huang, a Hong Kong resident who was not based in Singapore, was investigated for suspected involvement in possible offenses in Singapore, given her position as Megaspeed’s then-chief executive, chairperson and one of its key controllers. Singapore did not investigate her for espionage.
On June 24, 2025, the U.S. Bureau of Industry and Security conducted a voluntary post-shipment verification visit at Megaspeed. Alice Huang was present. Singapore said that visit was the first time it learned of American interest in her and the company.
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Singapore police interviewed her the same day and impounded her passport to secure her attendance during their investigation. Her passport remained impounded for about eight months, until February 26, 2026.
Companies under investigation had bought servers and exported them through Singapore to Malaysia without the equipment entering the Singapore market. Police were checking whether the servers subsequently went elsewhere, contrary to declarations made in Singapore.
Singapore said it could not establish the facts solely from declarations submitted by the companies under investigation. Officers needed information from the places where the equipment originated and where it eventually arrived.
They sought information concerning U.S. server supplier Supermicro, which the ministry said provided limited cooperation. On July 7, 2025, Singapore police and the Attorney-General’s Chambers asked American authorities to help obtain the company’s cooperation. Police repeated the request to the U.S. Justice Department and FBI on several occasions from September 2025.
As of Nov. 12, 2026, Singapore said it had received limited information or assistance concerning Supermicro despite those requests.
In February 2026, police, after consulting prosecutors, concluded that there was insufficient evidence to establish that Alice Huang had committed any offenses relating to the possible inaccurate declarations for which Megaspeed was being investigated. The stern warning and entry ban concerned knowingly inaccurate information she gave police to downplay her role in Megaspeed. Her passport was returned on Feb. 26, and she left Singapore that day.
Singapore also set out its position on foreign restrictions. It does not enforce other countries’ unilateral export controls, but expects companies operating there to account for them in international business. It said it would act against fraud or dishonest practices that breach Singapore law.
Denials and the planned review
China rejects the allegations that Alice Huang worked as an intelligence asset. Foreign Ministry spokesman Guo Jiakun called the spying narrative groundless speculation earlier this week and described it as slander.
Megaspeed has also disputed wrongdoing. In December 2025, it said inspections and reviews by American and Malaysian authorities and Nvidia had found no evidence of violations. That was the company’s account of those reviews; Singapore’s newly released statement says its own investigation remains open.
At Megaspeed, James Tan Yong Pong signed the company’s Nov. 12 response as chairman and chief executive. He said the business had cooperated with inspections by the Bureau of Industry and Security and was prepared to cooperate with other relevant American authorities.
The company has retained a U.S. law firm to lead a census of its graphics processing units, the chips used for much AI computing, and independently verify its export-compliance practices. The announcement describes work commissioned, without presenting completed findings or an inventory.
Singapore’s investigation into Megaspeed and six other people continues. The ministry said none of those six had been in Singapore since the inquiry began in February 2025.
Frequently Asked Questions
Who is Kang Wei?
Kang Wei is a Chinese fund manager who founded Shanghai Hexi in 2010. People who know him and Alice Huang identified them as a married couple. Their investments included videogames before they helped build Megaspeed's cloud business.
How did Megaspeed gain access to Nvidia chips?
Megaspeed told Nvidia that Alibaba would be an anchor customer. People familiar with the negotiations said the large customer helped it secure priority chip access through Nvidia Cloud Partner status in November 2023.
What did Singapore conclude about Alice Huang?
Police found insufficient evidence to establish offenses relating to suspected inaccurate server-purchase declarations. They separately assessed that she knowingly gave inaccurate information to downplay her role in Megaspeed, issued a stern warning and barred her from returning. Singapore did not investigate her for espionage.
Is renting overseas computing the same as shipping chips to China?
No. A cloud customer rents access to computers in an overseas data center. The machines can remain there while the customer uses their computing power remotely. Allegations that physical servers were diverted into China concern a separate activity.
What is Megaspeed doing in response?
Chairman and CEO James Tan Yong Pong said on November 12 that Megaspeed had hired a U.S. law firm to conduct a census of its graphics processing units and review export-control compliance. The announcement did not present completed findings. Singapore's investigation into the company remains open.
AI-generated summary, reviewed by an editor. More on our AI guidelines.
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Marcus Schuler
Editor-in-Chief and founder of Implicator.ai. Former ARD correspondent and senior broadcast journalist with 10+ years covering tech. Writes daily briefings on policy and market developments. Based in San Francisco. E-mail: editor@implicator.ai
