Nvidia Case Figure Linked to Sanctioned Shanghai Fund Manager

Chinese businesswoman Alice Huang, linked to the Nvidia espionage case, reportedly held a 25% stake in a Shanghai fund manager founded by Kang Wei, a financier sanctioned by Chinese regulators and later investigated for market manipulation, according to Caixin. Huang, also known as Huang Le, joined Shanghai Hexi Investment Management in November 2015 as deputy general manager and investment committee member, after working at HSBC and CITIC Securities. Caixin reported, citing sources, that Huang and Kang were married, though no public documentation confirms this. In 2018, the China Securities Regulatory Commission fined Hexi 17.7 million yuan and Kang 400,000 yuan for irregularities in declaring shareholdings in Huiqiu Technology, with another fine of 2.5 million yuan issued to Kang in 2025 for hiding investor links. Shanghai police reportedly took criminal coercive measures against Kang in early 2026 for suspected market manipulation, though this could not be independently confirmed. Huang has not been personally implicated in these violations. The investigation also connects Hexi to gaming firm Zhejiang Century Huatong and 7Road, later renamed Megaspeed International, a Singapore-based cloud computing company for artificial intelligence where Huang became a director in March 2023. Megaspeed, recognized by Nvidia as a cloud services partner, faced scrutiny over alleged access to restricted chips for Chinese clients, which it denies. US Ambassador to China David Perdue said the case highlights the need for vigilance, while Beijing dismisses the espionage allegations as fabrication.