A little-known Singapore-based cloud computing company and its affiliates imported at least $4.6 billion (£3.5 billion) worth of Nvidia hardware in less than three years, according to trade records analysed by Bloomberg.
Megaspeed International has come under scrutiny over how its powerful AI processors are being used across Southeast Asia. The company has also become entangled in the controversy surrounding Nvidia CEO Jensen Huang and former Megaspeed executive Alice Huang, raising questions about its business relationships and access to restricted technology.
From Chinese Gaming Roots to AI Infrastructure
Megaspeed was incorporated in Singapore in 2015 as 7Road International, an overseas subsidiary of Chinese video game company 7Road. The company was renamed Megaspeed in March 2023, when Alice Huang, also known as Huang Le, joined as a director and managing director. She left both positions in November 2023, according to corporate records reported by The Business Times.
Megaspeed's website describes it as a core business partner of Nvidia's computing-power cloud business in the Asia-Pacific region.
Rather than simply selling processors, the company acquires Nvidia-powered servers and rents computing capacity to customers developing and running AI systems. This allows businesses to access powerful GPUs without having to purchase and operate the hardware themselves.
The Billions Behind Megaspeed's Nvidia Business
Bloomberg previously reported that Megaspeed rented Nvidia-powered computing capacity to Chinese technology group Alibaba at facilities in Southeast Asia.
Trade records analysed by Bloomberg showed that Megaspeed and its affiliates imported at least $4.6 billion (£3.5 billion) worth of Nvidia hardware between 2023 and November 2025. The shipments included at least 136,000 GPUs, making Megaspeed one of Southeast Asia's largest Nvidia hardware buyers, according to the publication's analysis of Malaysian and Indonesian customs records.
Bloomberg's analysis tracked imports by Speedmatrix, Megaspeed's Malaysian subsidiary, and PT Megaspeed International Indonesia. The $4.6 billion figure covers the two entities and should not be attributed to Speedmatrix alone.
The arrangement has drawn scrutiny because servers located in Southeast Asia can provide remote computing services to customers elsewhere, including China. Bloomberg noted that US rules generally allow Chinese companies to rent advanced Nvidia processors physically located outside China, although exceptions apply to certain uses.
Whether a particular arrangement breaches export controls depends on the applicable restrictions and how the hardware is deployed and used.
The scale of those imports has raised questions in Washington about whether processors supplied to regional data centres could give Chinese customers access to technology restricted from direct export to China.
Jensen Huang has defended Nvidia's dealings with Megaspeed, saying the company had examined its hardware deployments. 'We've studied all their deployments of our GPUs and counted every one,' he told Bloomberg.
Export Control Questions and Nvidia's Response
US authorities have investigated Megaspeed over suspicions that it helped Chinese businesses access restricted Nvidia chips.
The Singapore investigation is separate from the US inquiry into suspected chip diversion. Megaspeed told Bloomberg that Singapore's investigation into activities related to alleged chip diversion had concluded earlier in 2026 without adverse action against the company. However, Singapore Police Force subsequently said that investigations into Megaspeed were ongoing.
In a 31 October clarification, Singapore's Ministry of Home Affairs reproduced the police response confirming the ongoing investigation. The ministry separately rejected reports that Singapore officials had investigated Alice Huang over alleged intelligence links or her relationship with Jensen.
Megaspeed has categorically denied the chip-diversion allegations. Nvidia has also defended the arrangement, with a spokesperson telling CNBC: 'The diversion allegations against this regional cloud were thoroughly investigated and debunked last year.'
In a statement published on its website on 23 December 2025, Megaspeed rejected Bloomberg's reporting as misleading and said on-site inspections by the US Bureau of Industry and Security, Malaysia's Ministry of Investment, Trade and Industry and Nvidia had found no evidence of illegal chip transfers or other violations. The company also warned that it did not rule out legal action against Bloomberg.
A 10 November report by The Business Times raised further questions about Nvidia's involvement in the US scrutiny of Megaspeed. It reported that Nvidia general counsel Tim Teter contacted Commerce Under Secretary Jeffrey Kessler in 2025 to ask whether the US Bureau of Industry and Security (BIS) was involved in Alice Huang's detention in Singapore.
The report said Teter was subsequently told that BIS had not been involved in her detention. It also reported that BIS staff were instructed to route Nvidia-related requests through Kessler or obtain his approval before contacting the company.
They were also told not to mention Megaspeed or Speedmatrix in external communications, according to people familiar with the matter. The report did not establish that Teter had specifically requested these restrictions or that his intervention caused them.
The Business Times further reported that the Justice Department, which was working with BIS on the case, requested that the agency pause its efforts in late 2025. BIS had made no progress since then, according to people familiar with the matter. The Justice Department's involvement does not mean the allegations have been proven, and the criminal inquiry remains ongoing.
The report also highlighted a discrepancy between Nvidia's initial accounting of hardware supplied to Megaspeed and shipment figures identified in Bloomberg's trade-record analysis. The difference amounted to around 50,000 units.
Nvidia subsequently told Bloomberg that it had checked additional Megaspeed warehouses that it said contained the missing hardware, but declined to disclose exactly how many chips it had found.
We just issued a press release from our board of directors. Read the release: https://t.co/W9yXWJzbkk
— NVIDIA Newsroom (@nvidianewsroom) November 8, 2026
The Business Times also identified discrepancies in Nvidia's account of Megaspeed's data centre footprint. Two of the eight data centre operators Nvidia told US officials it had visited reportedly said they did not have Megaspeed's hardware. Nvidia declined to comment on the discrepancies.
The reported differences do not establish that chips were illegally diverted or that export rules were broken.
Despite the controversy, The Business Times reported that Nvidia had stopped doing business with Megaspeed because of the negative publicity surrounding Alice. However, the company remained an official Nvidia Cloud Partner as of 10 November, despite the reported breakdown in their commercial relationship.
Why Jensen and Alice Huang Are Back in the Spotlight
Alice Huang's former role at Megaspeed has brought the company into the controversy surrounding her reported personal relationship with Jensen Huang.
The Business Times reported on 10 November that Jensen had admitted to having an affair with Alice after previously describing their interactions as business-related. 'Our relationship, our interactions, have been related to Megaspeed, and it was all completely normal and not unusual,' he previously said.
Recent reports have alleged that US intelligence officials viewed Alice Huang as a Chinese intelligence asset. The New York Times reported that US authorities had concluded she was an intelligence asset, although Reuters said it could not independently verify the allegations.
Nvidia's board has launched an independent review of the national security concerns raised by the reports, while saying it has no reason to believe company secrets or national security were compromised.
Singapore's government has explicitly disputed claims that its officials investigated Alice over alleged intelligence links. Its clarification does not, however, resolve the separate US allegations or the ongoing Singapore investigation into Megaspeed.
Megaspeed's Nvidia business has consequently become a focal point in a much wider debate over AI infrastructure, China's access to advanced chips and the effectiveness of US export controls.
