
Singaporean data center operator Megaspeed has handled more than US$4 billion in Huida chip transactions in two years, but its offices are empty, suspected of circumventing U.S. export controls
AI-generated summary
Former Huida CEO Huang Jen-Hsun was revealed to have had an extramarital affair with Huang Le, a former Singaporean Megaspeed executive suspected of being a Chinese spy. Megaspeed has handled more than US$4 billion in Huida chip transactions in two years, but its offices in Singapore and Malaysia were empty. It was involved in circumventing U.S. export controls to transfer chips to China and had corporate ties with Alibaba.
[Financial Channel/Comprehensive Report] Former NVIDIA CEO Jen-Hsun Huang was revealed to have had an extramarital affair with Huang Le, a former senior executive of Singapore data center company Megaspeed who is suspected of being a Chinese spy. The company was found to have handled billions of dollars in Huida chip transactions in just two years. However, foreign media directly discovered that the offices of Megaspeed and its Malaysian subsidiary were empty.
"AFP" reported that when reporters went to Megaspeed's office in Singapore's business district, they found that the glass door was locked and empty, with no employees in sight.
People nearby said they had not seen employees coming or going in the past few months. The office of Speedmatrix, a subsidiary of the company in Johor, Malaysia, is also missing. The company that once handled billions of dollars in AI chip transactions now has an empty office.
According to relevant accusations, Megaspeed, ostensibly in the name of purchasing computer hardware and supplying data centers in Southeast Asia, may actually be helping Beijing circumvent U.S. export controls and transfer advanced Huida chips to China. According to reports, Megaspeed has handled more than $4 billion in Huida chip transactions in just two years. Considering that an advanced AI chip may be worth tens of thousands of dollars, the scale of the transaction is quite staggering.
What's more noteworthy is that the corporate structure behind Megaspeed is not simple. AFP traced a network of financial connections across Singapore, Malaysia and the Cayman Islands, indicating that Megaspeed's business may be connected to Chinese technology giant Alibaba.
Megaspeed, which has a subsidiary in Malaysia, reached an agreement with Singaporean company Apex Enterprise Solutions in 2024, promising to use its assets as security in case of a breach of contract. According to Singapore corporate registration information, Apex is related to Alibaba Group Holding Co., Ltd. through its parent company, and Alibaba Group Holdings Co., Ltd. is a company registered in the Cayman Islands.
At that time, Huang Le was no longer registered as a director of Megaspeed, but the Singaporean authorities pointed out that she was still one of the company's "major controllers". Megaspeed's ultimate holding company is a Singaporean company called Swiftdata. Singaporean businessman Tan Yong Pong serves as a director of both Megaspeed and Swiftdata. He used to run printing and graphic design companies.
When an AFP reporter went to the address registered by Chen Yongbang in eastern Singapore, no one answered the door and the sound of a dog barking was heard inside the house. An elderly neighbor said that he occasionally encountered a woman walking her dog at the elevator entrance, but had not seen them for several months. From corporate acquisitions, equity arrangements to cross-border asset guarantees, the network behind Megaspeed involves multiple jurisdictions, which has also made the outside world pay more attention to chip transactions and the final flow of funds.
AI outlook — possibilities, not facts
US or Singaporean authorities to launch formal investigation into Megaspeed
Likely · Within weeks
Huida Chip’s export controls to China may be further tightened
Likely · Within months

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