Megaspeed, the Singapore cloud company at the center of the reports about Jensen Huang that preceded his exit from Nvidia, said Thursday, Nov. 12, that it had hired a US law firm to count every graphics chip it owns. The same day, Singapore’s Ministry of Home Affairs published its fullest account yet of its own investigation into the company, which it said began in February 2025 and is still open.
These are the first on-the-record statements about the chip side of the story, from the company and from a government. The intelligence claims behind it are still unreleased, as our explainer on the Huang probe sets out. Megaspeed’s statement came hours before Nvidia announced that Huang had resigned as CEO, NBC News reported.
What Megaspeed’s statement says, and what it leaves out
The statement on Megaspeed’s website, dated Nov. 12, is signed by Tan Yong Pong, also known as James Tan, its chairman and CEO. “Megaspeed takes its compliance obligations under U.S. export control laws extremely seriously,” it says.
The company says it has retained “a leading U.S. law firm to lead a comprehensive census of its graphics processing units (GPUs)” and to independently verify its export-control practices. It says it cooperated with inspections by the Commerce Department’s Bureau of Industry and Security. It also “stands ready to cooperate fully with any other relevant U.S. government authority,” NBC News reported.
The statement doesn’t name the law firm, give a deadline or say whether the results will be published. It doesn’t address the reporting about a former senior Megaspeed executive. In October, The New York Times reported that US intelligence agencies had concluded she was gathering information for Beijing. We are not naming her, because no government has charged her with anything.
Megaspeed describes itself as a GPU cloud provider renting out Nvidia computing power, with offices in Singapore and Jakarta. The company “has denied illegally diverting chips to China,” Reuters reported on Thursday.
Singapore’s account: false declarations, not espionage
The ministry’s statement is the most detailed official record so far. Singapore police and customs opened an investigation in February 2025 into several companies and their key officers, including Megaspeed. The suspected offences were “potential false declarations in relation to the purchase of servers.”
Singapore first learned of US interest on June 24, 2025, the ministry says. That day the Bureau of Industry and Security carried out a voluntary post-shipment check at Megaspeed. Police interviewed the former executive the same day and impounded her passport, because she wasn’t based in Singapore.
The servers under investigation were “exported through Singapore to Malaysia without entering the Singapore market,” the ministry says. Police are examining whether they were then sent elsewhere, against what was declared in Singapore.
On the executive, the ministry is blunt in both directions. She “was not investigated for espionage,” it says. In February 2026, police found “insufficient evidence” that she had committed any offence. They also concluded she had knowingly given them inaccurate information to play down her role. She received a stern warning, was barred from re-entering Singapore and left on Feb. 26, the statement says.
The case against the company continues. Investigations into Megaspeed and six other people are ongoing, and none of the six has been in Singapore since February 2025, the ministry says.
Singapore says the US has shared little
The statement also complains about Washington. Singapore police sought information from Supermicro, the US server maker, which “provided limited cooperation,” the ministry says. Since September 2025, police have repeatedly asked the Justice Department and the FBI for help. Singapore “has to date received limited information or assistance in respect of the company,” it says, referring to Supermicro.
Singapore “does not enforce unilateral export controls imposed by other countries,” the ministry notes. Its case is about lying on declarations under its own law. Between February 2025 and July 2026 it charged four people and four companies in related cases, with offences carrying up to 20 years in prison each.
In Washington, the pressure is now political. Megaspeed is under US criminal investigation over alleged chip smuggling into China, NBC News reported. On Nov. 11, Sens. Elizabeth Warren and Chris Coons asked Commerce Secretary Howard Lutnick, Secretary of State Marco Rubio and White House chief of staff Stephen Miller to “preserve all records” on Nvidia’s exports to China and on Megaspeed, Yahoo Finance reported.
Their letter says the public record “raises significant concerns about the federal government’s ability to effectively enforce our export controls.” Both senators are in line to chair committees with subpoena power when Democrats take control of Congress in 2027, Yahoo Finance said. The White House didn’t respond Thursday morning.
Chinese buyers move before the rules do
Chinese AI companies are now trying to rent Nvidia computing power at data centers outside China, Reuters reported, citing people familiar with the matter. They fear the Huang scandal could push Washington to close that route. Renting remote capacity abroad is currently how Chinese firms reach chips they can’t import.
The fear has a specific target, the Remote Access Security Act, according to Reuters. The bill would give the Commerce Department power to regulate cloud access to restricted technology.
Beijing rejects the premise. “The U.S. side should stop fabricating so-called espionage narratives as a pretext for implementing technological blockades,” a Foreign Ministry spokesperson said Thursday, NBC reported. Our explainer on how foreign intelligence services target executives covers what US agencies say about such approaches.
Tuesday, Nov. 17, is the next marker on both fronts. It is the senators’ deadline for the administration to confirm it is preserving records, and Nvidia reports quarterly results that afternoon with Colette Kress as interim CEO.
