Report: Alice Huang-Linked Firms Backed DeepSeek's $15.8B Round to Secure Restricted Nvidia Blackwell Chips
NVDA is trading near its 52-week low of $148.8 (14% above the low) on elevated volume (5.2× avg).
Summary
Entities tied to Alice Huang — Century Litong and its Shanghai-listed parent Jiangsu Lettall Electronics — put money into DeepSeek's $15.8 billion round, which closed in October, reportedly to build a supply route for Nvidia Blackwell chips that U.S. export controls bar from China. The report says Litong has imported roughly 240,000 Nvidia chips worth at least $7.5 billion into China since 2023, including Blackwell parts, and that DeepSeek staff backed its inclusion as a major supplier of black-market Nvidia hardware. This lands days after Jensen Huang's abrupt resignation amid a board investigation and adds a second front to the China export-control story: whether Nvidia's chips reached restricted buyers through intermediaries. Michael Burry is separately raising questions about whether Nvidia overstated or underreported regional revenue, and the stock is down 26.57% over the past month, closing Thursday at $166.19. The near-term risk is regulatory and legal exposure over diversion of restricted product, not a change to the demand picture.
At the time of this announcement, NVDA was trading at $168.92 on NASDAQ in the Technology sector, with a market capitalization of approximately $4T. The 52-week trading range was $148.80 to $243.37. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Benzinga.