多年来，华盛顿一直试图阻止中国获取世界上最强大的 AI 芯片。但在 2025 年，特朗普政府朝令夕改：它先叫停了英伟达 H20 对华销售，随后又撤销禁令，后来更允许性能强得多的 H200 出口中国。英伟达掌门人黄仁勋就处在这场风波的中心，他曾多次会见唐纳德·特朗普总统。
For years, Washington has tried to keep China away from the world's most powerful AI chips. But in 2025, the Trump administration blew hot and cold: it stopped Nvidia's H20 sales to China, reversed the ban, and later allowed the far more powerful H200. Right in the middle was Nvidia boss Jensen Huang, who met President Donald Trump several times.
如今，事情出现戏剧性转折。11 月 8 日，黄仁勋在致员工信中承认自己“背叛了妻子”。同一天，英伟达董事会宣布启动独立调查，此前有报道称他是“外国情报行动的目标”。特朗普与黄仁勋的会晤、芯片政策的反复以及间谍风波。
Now the story has taken a dramatic turn. In a November 8 letter to employees, Huang admitted he had been "unfaithful to his wife." The same day, Nvidia's board announced an independent investigation after reports that he was the "target of a foreign intelligence effort." Trump–Huang meetings, chip policy shifts and the espionage fallout.
《纽约时报》将这起据称的行动与新加坡公司 Megaspeed 前高管 Alice Huang（黄爱丽丝，音译）联系起来。
The New York Times linked the alleged operation to Alice Huang, a former executive at Singapore-based Megaspeed.FROM BIDEN'S CURBS TO TRUMP'S U-TURNS The curbs began under Joe Biden.
从拜登的限制到特朗普的大反转限制始于乔·拜登时期。2022 年 10 月 7 日，其政府限制中国获取先进芯片和芯片制造技术，并于 2023 年 10 月收紧规则。英伟达随即推出 H20。
On October 7, 2022, his government restricted China's access to advanced chips and chip-making technology, tightening the rules in October 2023. Nvidia responded with the H20.
特朗普上台后，局势发生变化。2025 年 1 月 31 日，黄仁勋在白宫会见特朗普。路透社报道称，双方讨论了“中国的 DeepSeek AI 模型以及可能的出口限制”。4 月 9 日，美国告知英伟达 H20 出口将需要许可证，公司表示这导致了 45 亿美元的库存积压和采购承诺费用。
Under Trump, things shifted. On January 31, 2025, Huang met him at the White House. Reuters reported they discussed “China's DeepSeek AI model and possible export curbs.”On April 9, the US told Nvidia that H20 exports would need a licence, leading to a $4.5-billion charge on excess inventory and purchase obligations, the company said.
7 月 10 日，黄仁勋再次会见特朗普，数天后前往中国。当月晚些时候，华盛顿撤销了对 H20 的限制，英伟达称已获保证将发放许可证。据路透社报道，8 月 6 日双方又一次会晤后两天，商务部开始发放许可证。
Huang met Trump again on July 10, days before travelling to China. Later that month, Washington reversed the H20 curb, with Nvidia saying it had been assured of licences. After another meeting on August 6, the Commerce Department began issuing licences two days later, Reuters reported.
12 月 3 日，特朗普与黄仁勋会面讨论出口管制。五天后，他宣布获批的中国客户可在特定条件下购买 H200，收入的 25% 将上缴美国政府。
On December 3, Trump met Huang to discuss export controls. Five days later, he announced that approved Chinese customers could buy the H200 under certain conditions, with 25 per cent of revenue going to the US government.
2026年1月15日，商务部修订政策，将包括H200在内的某些先进芯片的申请审批方式，从“推定拒绝”改为“逐案审查”。黄仁勋还于2026年5月13日作为临时增加的人员，随同特朗普访问北京。这些时间节点与政策转向高度重合，但仅凭这一点并不能证明会晤影响了决策。为何这些芯片至关重要可将GPU视为一种超高速引擎，能同时进行数千次微小计算，这正是AI所需要的。
From January 15, 2026, a revised Commerce policy moved applications for certain advanced chips, including the H200, from presumption of denial to case-by-case review. Huang also joined Trump's Beijing visit on May 13, 2026, as a last-minute addition. These dates overlap closely with policy shifts, but that alone does not prove the meetings influenced the decisions.WHY THESE CHIPS MATTERThink of a GPU as a super-fast engine that does thousands of small calculations at once, which is exactly what AI needs.
H20是为符合美国规则而面向中国推出的降配版。H200则是全功率型号，拥有141GB高带宽内存。这一差距正是华盛顿担忧的原因。新加坡线索在华盛顿辩论之际，黄仁勋持续游说重返中国市场。他在2026年10月接受彭博社采访时表示：“我们始终希望重返中国。”为英伟达与Megaspeed的交易辩护时，他补充道：“我们研究了他们部署我们GPU的所有情况，并清点过每一颗。”
The H20 is a toned-down version made for China to fit US rules. The H200 is the full-power model, with 141GB of high-bandwidth memory. That gap is why Washington worries.THE SINGAPORE TRAIL While Washington debated, Huang kept pitching for a return to China. In an October 2026 Bloomberg interview, he said: "We're always hoping to return to China." Defending Nvidia's dealings with Megaspeed, he added: "We've studied all their deployments of our GPUs and counted every one."
Megaspeed于2023年从中国游戏公司第七大道的海外业务中分拆而出。Alice Huang（中文名黄乐）在其前八个月担任董事总经理。据《纽约时报》报道，其马来西亚分公司Speedmatrix在2024年6月至2025年6月间，接收了200多批英伟达技术货物，价值近20亿美元。其中大部分来自Aivres，后者是中国公司浪潮在美国的分支机构，已被列入美国实体清单。美国官员怀疑货物被转往中国，但未发现确凿证据。
Megaspeed emerged in 2023 from Chinese gaming firm 7Road's overseas operations. Alice Huang, also known as Huang Le, was its managing director for the first eight months. Its Malaysian arm, Speedmatrix, received over 200 shipments of Nvidia technology worth nearly $2 billion between June 2024 and June 2025, the Times reported. Much of it came from Aivres, a US arm of Chinese firm Inspur, which is on the US Entity List. US officials suspected diversion to China but found no conclusive evidence.
新加坡警方于今年10月证实，“正就Megaspeed涉嫌违反我国内部法律一事进行调查”。2026年10月31日，新加坡方面澄清，Alice本人未因涉嫌中国情报关联而接受调查。
Singapore police confirmed in October this year that "investigations are ongoing into Megaspeed for suspected breaches of our domestic laws". On October 31, 2026, Singapore clarified that Alice herself had not been investigated over alleged Chinese intelligence links.
然而，《纽约时报》报道称，“美国情报机构怀疑”Alice被中国国家安全部招募，以收集黄仁勋的信息，并可能影响英伟达对华立场。该备忘录并未公开。
However, The NYT reported that “US intelligence suspected” Alice was recruited by China's Ministry of State Security to gather information on Huang and possibly influence Nvidia's China stand. The memo is not public.
英伟达发言人表示，黄仁勋与她的互动“并不罕见或意外”。11月9日，中国再次拒绝这些指控，称其为抹黑。此事已波及国会山。在11月3日的中期选举中民主党赢得两院多数后，三位共和党委员会主席于11月4日致信黄仁勋，要求就其与爱丽丝的互动及国家安全风险举行闭门简报会。民主党多数党将于1月接管委员会，因此后续发展尚不清楚。与此同时，英伟达董事会表示，“没有理由相信国家安全或英伟达机密遭到泄露。”黄仁勋承诺将予以配合。
Nvidia's spokesperson said Huang's interactions with her were "not unusual or unexpected." On November 9, China again rejected the claims as a smear. The matter has reached Capitol Hill. After Democrats won both chambers in the November 3 midterms, three Republican committee chairs wrote to Huang on November 4, seeking a closed-door briefing on his interactions with Alice and national security risks. Democratic majorities take over committees in January, so what happens next is unclear. Meanwhile, Nvidia's board says it has "no reason to believe that either national security or NVIDIA secrets were compromised." Huang has pledged to cooperate.- Ends