An anonymous reader quotes a report from The New York Times: A Chinese businesswoman who had a close relationship with the chief executive of one of the most important artificial intelligence companies in the United States was a spy for China's Ministry of State Security, Beijing's top intelligence agency, according to people briefed on U.S. surveillance. The businesswoman, Alice Huang, was recruited by the ministry to collect intelligence on Jensen Huang, the chief executive of Nvidia, as part of a drive to learn more about American A.I. chips and potentially influence the company to push for its most advanced chips to be made available to China, the people said. [...] The New York Times reported last week that Mr. Huang was a target of a Chinese intelligence operation, and that U.S. intelligence agencies were conducting electronic surveillance of Ms. Huang, a Chinese citizen, for at least a year. The Times reported that Mr. Trump had been briefed last year about Mr. Huang's relationship with her, but chose not to do anything about it. Ms. Huang speaks English well and has relationships with executives at the highest levels of the A.I. chip industry, including Mr. Huang and the leaders of Gigabyte, one of the top assemblers of Nvidia supercomputers, said people who have met her. She has attended industry conferences and private executive dinners. It is unclear when Ms. Huang first met Nvidia's leader. In 2024, around the time the two of them were photographed together at a bar in Taipei, her company, Megaspeed, began a multibillion-dollar purchase of advanced A.I. microchips. To many in the industry, the well-funded push by Megaspeed into A.I. appeared to come out of nowhere. Ms. Huang was connected to a network of companies and investors clustered around Shanghai and Zhejiang province that had used their ties to local officials in Shanghai to push aggressively from mobile video games into data centers, which provide the computing power behind artificial intelligence. Megaspeed has been building data centers in Southeast Asia and then renting their computing power to Alibaba, the giant Chinese internet firm, giving China a backdoor way of getting access to advanced Nvidia chips. Nvidia is restricted by the United States from selling those chips directly to China. Beyond its local connections, the network also has a financial link to the Chinese military establishment, through an investment in a cybersecurity subsidiary of China Electronics Technology Group, one of the country's largest makers of military technology. Following the report, top Republican lawmakers have asked Jensen Huang to appear before Congress to answer questions. "Recent reports raise significant national security concerns regarding the People's Republic of China's access to sensitive US technology and information," representatives John Moolenaar, Brian Mast, and Rick Crawford said. "The issue of PRC infiltration and access to cutting-edge US technology is core to the investigative work of our three committees this Congress. It is vital that Congress determines the extent to which US national security has been placed at risk," the lawmakers added.

Read more of this story at Slashdot.

At the Seventh Manned Spaceflight Conference in Beijing, Chinese space officials publicly outlined the most detailed roadmap yet for landing astronauts on the Moon "before 2030." Ars Technica reports: China's lunar landings will involve a lunar-orbit rendezvous similar to what NASA did in the 1960s and early 1970s with the Apollo program. However, lacking a rocket as powerful as the Saturn V vehicle, the crew and lunar lander will launch separately to the Moon. According to slides shared on social media, the current plan involves: - An uncrewed test of the Long March 10A rocket (a single-stick variant, with no boosters) and the Mengzhou spacecraft to low-Earth orbit. Target: early 2027 - An uncrewed test of the larger Long March 10 rocket (a core stage with two boosters) and the Lanyue lunar lander, including descent/ascent from Moon's surface. Target: 2028 - A concurrent launch of two Long March 10 rockets, one carrying uncrewed Mengzhou and the other the Lanyue vehicle; they will dock in lunar orbit. Target: 2029 - Dual launch of Long March 10 rockets, this time with crew on the Mengzhou spacecraft, leading to crewed landing mission. Target: "Before 2030" The public release of this new information provides a timeline for gauging China's technical progress in its efforts to land humans on the Moon before 2030 and beat NASA and the United States back to the lunar surface. Notably, the plan (for now, at least) omits a mission similar to Apollo 8 or Artemis II, which involved a crew flying out to the Moon and either entering orbit or passing close by before returning to Earth. The Mengzhou vehicle should still get a workout closer to Earth with humans on board as part of missions carrying astronauts to Tiangong, China's space station in low-Earth orbit.

Read more of this story at Slashdot.

An anonymous reader quotes a report from Reuters: While global tech stocks teeter, in China they have already crashed as lofty valuations collapse under worries about AI demand and curbs on Chinese exports. The meltdown, tanking the mainland STAR50 index of AI and semiconductor leaders by 40% in less than four months and vaporizing some $480 billion in market value, is an ill omen for wobbly world markets and a dampener on China's efforts at encouraging its savers into stocks to fund the AI boom. It has also slammed the brakes on a rally running two years, since economic stimulus promises sent shares soaring, and has stalled Beijing's push to break with a long boom-bust pattern and drive a "slow bull" market that delivers reliable performance. China's broad blue-chip index has dropped about 20% from highs made in June. "The stock market later evolved into a speculative crazy bull," said Beijing-based fund manager Dong Baozhen. "And now we see the bubble bursting." There was no clear trigger for the selloff in China, though traders pointed to high valuations, tax bills, and the threat of foreign bans on Chinese data center equipment. According to Goldman Sachs, AI stocks account for 42% of China's market capitalization and 57% of trading turnover, leaving investors widely exposed to the downturn. "What's happening is now going to put a stop for many of the companies trying to get themselves listed," said Hong Hao, managing partner and chief investment officer at Lotus Asset Management in Hong Kong. "Overemphasising the 'technology content' -- that is, the weighting of tech companies by market value in major indexes -- leads to a deviation, even a distortion, in capital behavior," said Leo Wang, partner at Beijing-based Qianchuang Capital. "This created a severe bubble in certain sectors and a serious drain on others." "Just like all other Chinese manufacturers, (chipmakers and AI suppliers) will eventually end up in a price war," said fund manager Wang Zhuo, partner at Shanghai Zhuozhu Investment Management. "There's no exception," he said. "All bubbles inevitably burst."

Read more of this story at Slashdot.