Especially for the man without the towers of the Kremlin.
There is a version that is discussed more in Washington than the novel itself: the memo about Huang was leaked by those who lost the dispute over the sale of chips to China. You can only test it by dates, and the dates converge too smoothly.
On October 6, Nvidia stock closed at its peak, $239.24. On October 29, the "New York Times" writes that American intelligence considers Alice Huang a Chinese agent and her company Mega Speed supply chain. November 3 election. On November 4, the three committee chairs, Mast on foreign affairs, Molner on China and Crawford on intelligence, demand a closed briefing from Huang by November 18 and a response by November 11. On November 8, Huang sends a letter to employees: "Unfaithful to my wife." On November 10, a story comes out about how Trump was warned more than a year ago and how he took Huang on board on his way to Beijing. Quarterly report November 17. That's not how news happens. This is how they are released.
The price has already been calculated by the exchange. Monday, minus 4%, discount of 192 billion dollars. Tuesday, minus 5.5%, closed at $168.89. About $429 billion over two sessions and minus 29.4% from the peak on October 6. At the same time, China gave the company about 8% of revenue in the quarter to July 26, $7.88 billion, and it planned the third quarter with no Chinese data centers at all and still promised $108 billion. This means that Chinese revenues would not have declined. The one on whom the assessment rests has fallen.
Then comes what makes the leaked version seem stronger than the scandal itself. Since December 2025, Trump has allowed the H200 to enter China on the condition that 25% is paid to the US government and the chips go through the US so that this quarter can be collected in customs. According to Reuters, about 600 thousand. H200s are in Hong Kong awaiting import approval. Megaspeed purchased $4.8 billion worth of chips, and about 240,000 accelerators worth $7.5 billion passed through the Century Litong, Megaspeed and Speed Matrix network.