Trump Commerce Secretary Got Classified Memo on Nvidia CEO's China Ties Before Chip Export Approval

US Commerce Secretary Howard Lutnick received a classified intelligence memo about Nvidia CEO Jensen Huang's alleged relationship with a suspected Chinese intelligence agent before the news became public, raising questions about the Trump administration's approval of advanced chip exports to China-linked companies. The memo, prepared under Secretary of State Marco Rubio's supervision, detailed the relationship between Jensen Huang and Alice Huang, based on surveillance and an investigation into suspected chip smuggling involving her company, Megaspeed. Rubio reportedly warned Trump aboard Air Force One before Huang joined the presidential delegation to China in May, while the Commerce Department was clearing Nvidia H200 processor exports to Chinese entities. Nvidia has lost approximately $1 trillion in market value since the report emerged, though midterm election concerns and AI scrutiny also contributed. Huang acknowledged the affair on Sunday, prompting an independent board investigation, while lawmakers across party lines demand further disclosures and Huang is expected to testify closed-door next week.