By An investigation reveals a $14 million investment connected to Huang’s business network as questions intensify over Nvidia chip exports, Chinese AI development and the resignation of former CEO Jensen Huang. Companies connected to Alice Huang, the Chinese businesswoman at the center of a controversy involving former Nvidia CEO Jensen Huang, reportedly invested in artificial intelligence developer DeepSeek while offering access to advanced Nvidia processors restricted under U.S. export controls. According to a November 12, 2026, investigation by The Information, Century Litong and its parent company, Shanghai-listed Jiangsu Lettall Electronics, participated in DeepSeek’s second fundraising round between July and October. The investment was reportedly intended to strengthen commercial relationships with DeepSeek and establish access to Nvidia’s Blackwell artificial intelligence processors.
Corporate records reviewed by The Information identified a 95 million yuan investment, approximately $14 million, by Jiangsu Lettall through an investment vehicle established by Beijing-based Monolith Management. The total investment made by Huang-linked companies remains undisclosed. The revelations follow Jensen Huang’s resignation as Nvidia CEO on November 12 amid investigations into his relationship with Alice Huang and potential national security concerns.
DeepSeek Investment Linked to Restricted Nvidia Chip Supply
DeepSeek’s second financing round raised approximately 105.5 billion yuan, equivalent to $15.8 billion, and valued the Chinese AI developer at approximately $92 billion. The fundraising attracted nearly 30 investors, including Tencent and battery manufacturer CATL. According to The Information, DeepSeek employees encouraged investors to include companies associated with Alice Huang because of their reported ability to supply Nvidia processors through unauthorized channels. The investments were structured through special-purpose vehicles, meaning the participating companies did not appear directly on DeepSeek’s shareholder register.
One investment vehicle was managed by Monolith Management, which became DeepSeek’s third-largest investor following the financing. Century Litong, a Chinese cloud computing company established in 2023, reportedly obtained preferred cloud partner status with Nvidia shortly after its founding. The Information reported that Litong-related companies had imported approximately 240,000 Nvidia processors worth at least $7.5 billion into China since 2023. The network also reportedly obtained Blackwell processors despite U.S. restrictions on exporting advanced AI chips to China. However, the investigation did not establish whether the processors allegedly promised to DeepSeek were ultimately delivered. Importantly, Alice Huang did not personally hold shares or executive positions in Century Litong or Jiangsu Lettall. Her connections were traced through corporate transactions and family relationships.
Nvidia Leadership Crisis Intensifies National Security Scrutiny
The reported investments have added to questions surrounding Nvidia’s relationships with overseas computing providers and the enforcement of U.S. semiconductor export restrictions. Alice Huang previously held an executive position at Singapore-based Megaspeed International, a company involved in providing Nvidia-powered computing infrastructure. Earlier investigations raised questions about whether commercial arrangements involving Megaspeed and related companies facilitated access to restricted processors. Huang has also been accused of having connections to Chinese intelligence, but those allegations remain unproven.
U.S. Attorney General Todd Blanche confirmed on November 12 that the Justice Department had not determined whether Huang was acting as a Chinese intelligence agent. China has rejected the espionage allegations, while Megaspeed has denied wrongdoing. Meanwhile, Nvidia’s board has initiated an independent investigation into the controversy. The disclosures arrive as Chinese AI companies seek additional computing capacity amid tightening American export restrictions. The reported DeepSeek investments highlight potential weaknesses in semiconductor oversight, particularly where complex ownership structures and overseas computing relationships make technology transfers difficult to monitor.