Megaspeed and the battle to go high-end Nvidia chips into China

Megaspeed, a Singapore-based AI computing company, is under US investigation over allegations that it diverted Nvidia chips to China in breach of export controls. The case has drawn renewed attention after reports that Alice H., a former Megaspeed executive accused of being a Chinese spy, had a relationship with Nvidia chief executive Jensen Huang.

Megaspeed buys Nvidia chips and rents computing capacity to clients, including Chinese technology firms such as Alibaba. The US permits some rentals to Chinese companies but restricts exports of high-performance chips and Chinese ownership of chip-equipped data centres. The investigation began in 2024; Megaspeed denies wrongdoing. Its assets rose from $33 million in 2023 to $3 billion in 2024, and Singapore police have also investigated the company.