What we know about Megaspeed, Singapore-based customer of Nvidia
NVDA•Megaspeed, a Singapore-based Nvidia customer under scrutiny over suspected diversion of restricted AI chips to China, reported $294 million in revenue and a $20 million after-tax loss in 2024. Its assets rose to $3 billion from $33 million in 2023.
1. Company and financials
Megaspeed was incorporated in 2015 as 7Road International and changed its name to Megaspeed International in March 2023, according to business filings. It is wholly owned by Swiftdata, incorporated in Singapore in October 2023. The filings show Megaspeed’s assets rose to $3 billion in 2024 from $33 million a year earlier, while revenue increased to $294 million from zero and its after-tax loss was $20 million, compared with $21,283 in 2023.
2. US and Singapore scrutiny
Megaspeed has faced US scrutiny over suspicions that it helped Beijing gain access to Nvidia AI chips whose export to China is restricted. The company says it is an Nvidia Cloud Partner in Asia-Pacific and offers access to GB200 NVL72 and HGX H100 systems. Singapore police said they were investigating Megaspeed over suspected breaches of domestic laws, and the government has said that investigation continues.
