What we know about Megaspeed, Singapore-based customer of Nvidia

Singapore-based cloud computing firm Megaspeed is under renewed scrutiny as the United States investigates Nvidia CEO Jensen Huang's alleged affair with Chinese businesswoman Alice Huang, who is suspected of being a spy for Beijing. Megaspeed, which uses Nvidia's advanced AI chips, was incorporated in 2015 as 7Road International before renaming itself to Megaspeed International in March 2023.

The company is wholly owned by Swiftdata, a Singapore-registered entity that began operations in October 2023. Both Megaspeed and Swiftdata share an address with Ng Wei Shi Khloe, who serves as their company secretary.

The firm, which has seen its assets increase to $3 billion in 2024 from $33 million in 2023, reported an after-tax loss of $20 million in 2024, despite a revenue jump to $294 million from zero. Its cash flow statement shows $844,555 was invested in 2024, while financing activities brought in $10 million the previous year.

Singapore police launched an investigation into Megaspeed after a US senator requested the Commerce Department investigate whether the company had diverted Nvidia chips. The Home Affairs Ministry responded to comments in the Wall Street Journal, clarifying that no such investigations had been conducted and that Singapore would not enforce unilateral export controls.

The ministry added that it would investigate Megaspeed for any suspected breaches of local laws and stressed its commitment to combating fraudulent and dishonest practices.