NVIDIA CEO Jensen Huang gave a keynote speech at the 2025 Annual Consumer Electronics Trade Show at the annual Consumer Electronics Trade Show in Las Vegas, Nevada.
Steve Marcus | Reuters
Alarm bells appear in 2024 when Singapore unexpectedly appears Nvidia’s The second largest source of income. The disclosure has caused widespread speculation that Nvidia’s artificial intelligence chips have been introduced to China.
These concerns in January Deep in China Due to the cost and cost-effectiveness of its model, it suddenly entered the international AI scenario. Although export restrictions are designed to keep technology away from China, DeepSeek’s AI is trained on NVIDIA’s graphics processing unit (GPU).
Singapore has been working to remove the Shadow network trafficking of NVIDIA’s cutting-edge AI chips, and later last week authorities there detained three people on charges of deliberately misrepresenting the ultimate destination of US-made servers, which could contain NVIDIA’s extremely peculiar chips.
Singapore’s Home Affairs and Law Minister K Shanmugam Revealed on Monday That server comes from Dell and Super microcomputer Being shipped to Malaysia raises a key question: Is Malaysia really the final destination?
NVIDIA declined to comment on any of these developments.
NVIDIA shares fell nearly 8% on Monday and are now down 14% in 2025, a slide that pushes the company’s market value to below $3 trillion. Super Micro stocks fell 11% on Monday, while Dell’s stock fell about 6%.
Although Singapore firmly rejects allegations as a Chinese channel, NVIDIA highlights the crucial difference in what it means to be a customer annual report last week.
Singapore accounted for 18% of total revenue (about $24 billion) for the fiscal year ended January 28, based on “customer billing locations” but less than 2% of revenue (about $473 million) in terms of products shipped to the country.
“Customers use Singapore to concentrate invoices in our products almost always ship elsewhere,” Nvidia said in its annual report.
The arrests in Singapore show that despite the increasing scrutiny, a network of refined dealers is still operating.
Ruisui analysts warn that any full ban on China’s NVIDIA chip exports could be lifted from Binvadia’s estimated revenue this fiscal year. The company said on its fourth-quarter earnings call that data center sales in China as a percentage of total data center revenues “a lot lower than what was seen at the beginning of export control.”
As digital boundaries harden between the East and West, silicon smugglers may discover new routes. However, the AI-dominated game ensures that this high-risk game will continue, with the impact far exceeding the company’s revenue.
