Companies Linked to Alice Huang Join DeepSeek’s Second Funding Round

Key Facts

Companies linked to Alice Huang, also known as Huang Li, took part in the second funding round for Chinese company DeepSeek, according to a report published by NDTV Profit, citing an investigation by The Information. The report said the investment aimed to establish closer business ties with the startup. It also sought to position Huang’s network as a potential supplier of Nvidia’s advanced AI processors. The report said the supply commitment included Blackwell processors, which are subject to U.S. export restrictions to China. The investment amount was not disclosed, and it remains unclear whether the promised chips reached DeepSeek.

Huang’s business network includes Singapore-based data center operator Megaspeed International and Chinese company Shanghai Century Litong, known as Litong, according to NDTV Profit. This places a network of companies operating between China and Singapore at the center of an effort to build a business relationship with DeepSeek. But the report describes Huang and her companies as participants in the investment and potential supply arrangement; it does not establish that Blackwell chips were transferred to the startup. The reported link between the funding round and processor supply remains separate from confirmation that any shipment was made. The funding amount itself has also not been announced.

In the background to Litong’s activities, NDTV Profit cited The Information as reporting that the company helped bring about 240,000 Nvidia chips into China since 2023, with a total value of at least $7.5 billion. These figures relate to activity attributed to Litong during a period that began in 2023; they do not represent the value of the investment in DeepSeek or the volume of chips allocated to it. According to the same report, Huang became the controlling shareholder in Megaspeed after previously holding senior positions at a Shanghai-based investment firm. This background adds context to the potential role of her network in supplying computing capacity. However, the account of the chips transferred remains attributed to the report cited by NDTV Profit.

NDTV Profit said Reuters reviewed more than 30 public financial records, corporate disclosures and materials related to Huang and her business interests. It also reported that Nvidia lists Megaspeed as an official cloud computing services partner in its partner directory. This connection matters in the context of the story because, according to the report, the investment aimed to bring business ties closer and position Huang’s network as a potential supplier of Nvidia processors. However, the company’s listing as a cloud partner does not confirm that chips reached DeepSeek. Nor does the number of records reviewed by Reuters, by itself, establish that the reported supply commitment was fulfilled.

The reported deal comes amid concerns that the United States could tighten restrictions on Chinese companies’ access to advanced processors. Reuters reported that Chinese AI companies are seeking to rent computing capacity powered by Nvidia processors outside China, fearing the case could prompt Washington to restrict remote access. Renting capacity at overseas data centers allows processors to be used remotely without importing them directly, according to the report. On November 12, Alibaba shares fell as much as 7.1% in Hong Kong, while shares of model developers Z.AI and MiniMax declined at least 7%, amid concerns about tighter restrictions. In the same session, Nvidia shares closed at $166.19, according to EL7 data.

On the legislative front, the U.S. House of Representatives passed the Remote Access Security Act in January by 369 votes to 22, and it was awaiting action by the Senate, according to Reuters. The law addresses access to advanced processors through remote connections, an issue that concerns Chinese companies renting computing capacity abroad. On export controls, Megaspeed said it cooperated with inspections conducted by the U.S. Department of Commerce’s Bureau of Industry and Security. The company added that it hired a U.S. law firm to inventory its graphics processing units and independently review their compliance with export controls. The report leaves unclear whether the promised chips were delivered to DeepSeek.