Megaspeed, the Singapore cloud computing company at the center of the reports that preceded Jensen Huang's resignation as Nvidia's chief executive, reported assets of $3 billion in 2024, up from $33 million a year earlier, according to Reuters. Its revenue went from zero to $294 million over the same period, and it posted an after-tax loss of $20 million.

That growth turned an obscure firm into what Tom's Hardware described as Nvidia's largest buyer in Southeast Asia. It also drew U.S. and Singaporean investigators. For investors in Asia, the company is a test case for how American export rules work when advanced AI chips are sold through regional cloud operators in Singapore and Malaysia. Megaspeed denies diverting chips to China.

Capital Times has covered the House chairs' request for a Huang briefing and the Nvidia board investigation. This explainer looks at the company itself.

From Chinese game studio to Nvidia cloud partner

Megaspeed was incorporated in 2015 as 7Road International and changed its name to Megaspeed International in March 2023, Reuters reported. It is wholly owned by Swiftdata, a Singapore company formed in October 2023, and two Singapore citizens serve as officers of both firms.

The 7Road name matters to critics in Washington. Sen. Tom Cotton, an Arkansas Republican, described Megaspeed as a spin-off of 7Road, which he called a Chinese government-owned cloud company, in an October 2025 letter to Commerce Secretary Howard Lutnick. Tom's Hardware described 7Road International as a Chinese gaming firm with state ties.

Megaspeed says it is an Nvidia Cloud Partner in the Asia-Pacific region, according to Reuters. It markets access to Nvidia's GB200 NVL72 and HGX H100 systems, The Standard reported. It still holds official Nvidia Cloud Partner status, The Next Web reported on Tuesday, Nov. 10.

The link to the current scandal runs through Alice Huang. Her Chinese name is Huang Le, and she ended an eight-month term as Megaspeed's managing director in October 2023, The Standard reported, citing media reports. U.S. officials reportedly believe she is a Chinese intelligence asset, The Next Web said; China denies it. She is not related to Jensen Huang and has not commented publicly.

What investigators and lawmakers have alleged

The core U.S. suspicion is that Megaspeed helped Beijing gain access to advanced Nvidia AI chips whose export to China is restricted, Reuters reported. Cotton's letter, dated Oct. 13, 2025, cited a New York Times report and listed several red flags: chips routed through a subsidiary of Inspur, which the letter called a sanctioned Chinese company; nearly empty offices in Malaysia and Singapore; a Malaysian data center where U.S. officials reportedly found export-controlled chips still in their boxes; and executives based mostly in China. According to Reuters, the Times report described Megaspeed routing Nvidia chips through Malaysia and Indonesia, where they appeared to serve Chinese customers remotely. Cotton asked Commerce to examine the company's "suspicious ownership, affiliations, or ties to U.S chip companies."

Singapore police said that month that investigations were ongoing into Megaspeed for "suspected breaches of our domestic laws," Reuters reported. Tom's Hardware later noted that the company's purchases and imports looked large compared with its declared data center capacity.

The newest reporting comes from Bloomberg, as summarized by The Next Web. Nvidia says it banned sales and shipments to Megaspeed in June 2025 and that the ban is still in force, with Commerce allowing it to send parts and replacement components. But Malaysian trade records show Megaspeed imported at least 17,544 GB300 chips worth roughly $787 million in November 2025, Bloomberg found. It also found that Nvidia's own count of chips sold to Megaspeed through partners fell about 50,000 units short.

Bloomberg also reported that Nvidia's general counsel, Tim Teter, called a Commerce official in 2025 to ask whether the department had any role in Singapore's detention of Alice Huang, and that a U.S. smuggling case against Megaspeed stalled after the Justice Department asked for a pause in late 2025, according to The Next Web. Nvidia says Teter did not know about the affair at the time, and The Next Web said it had not independently verified the Bloomberg reports. Sens. Jim Banks and Elizabeth Warren have since urged Commerce to reconsider Nvidia's licenses to sell to China, The Next Web said.

What Megaspeed, Nvidia and Singapore say

Megaspeed denies the diversion allegations and says Singapore's probe ended this year without action against it, The Next Web reported. Singapore's home affairs ministry gave a different account in October. It said investigations into Megaspeed continue and that none had been conducted into Alice Huang, The Standard and Reuters reported. Singapore says it does not enforce other countries' unilateral export controls but acts against companies that break its own laws.

Nvidia said in December 2025 that it had repeatedly visited Megaspeed's facilities, found a cloud service permitted under export rules and seen no evidence of diversion, and that it would continue spot checks, according to Tom's Hardware.

Tom's Hardware argued that Nvidia's sales model, built on distributors, system integrators and regional partners, makes end-use rules hard to enforce once hardware passes through intermediaries. The Megaspeed case puts that weakness in front of Congress just as Nvidia changes leaders.

The next dates are Nov. 17, when Nvidia reports third-quarter results under interim CEO Colette Kress, and the closed-door House briefing that the committee chairs first proposed for Nov. 18. Since Huang's resignation, the chairs have said he is willing to brief them, but no date has been set.