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Megaspeed, the Singapore-based firm at the heart of the Nvidia 'spying’ row
Megaspeed is a cloud-computing based out of Singapore and became one of Nvidia's “core business partners” in 2023.
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Singapore-based cloud computing company Megaspeed is at the centre of a row involving Nvidia. This row comes after Nvidia CEO Jensen Huang admitted to having an extramarital affair after reports linked him with Alice Huang, a Chinese businesswoman and executive at Megaspeed.
Alice Huang, whose Chinese name is Huang Le, is suspected to have been an intelligence asset for China, prompting the US to launch a probe into the matter.
While Jensen Huang has not named Huang Le or Megapseed in his statement to Nvidia employees, the admission has triggered a wider investigation regarding national security concerns.
What is Megaspeed?
Deep Dive
Megaspeed is a cloud-computing company based in Singapore and one of Nvidia's "core business partners."
Incorporated in 2015 as 7Road International, the company was renamed to Megapseed in 2023. It is wholly owned by Singapore's Swiftdata and directed by Tan Yong Pong, a Singapore national.
Tan was appointed a director of Swiftdata on October 31, 2023, before becoming a director of Megaspeed less than two weeks later. The same month, Alice Huang reportedly ended her eight-month tenure as managing director at Megaspeed.
In November 2023, Megapseed joined Nvidia's partner programme and operates as Nvidia's cloud partner in the Asia-Pacific region.
The firm buys cutting-edge GPUs (such as Nvidia's GB200 NVL72 and HGX H100 systems) and rents out computing power to clients across Southeast Asia, including locations in Singapore, Indonesia, and Malaysia.
In 2024, Megaspeed's assets increased from $33 million to $3 billion, according to its business filings.
The firm also reported an after-tax loss of $20 million in 2024, versus a loss of $21,283 a year earlier, while revenue jumped to $294 million from zero. Its cashflow statement showed $844,555 went to investing activities in 2024, after financing brought in cash of $10 million the previous year.
What is the row?
Megapseed gained global attention after reports that Alice Huang was involved in an extramarital affair with Nvidia CEO Jensen Huang.
US authorities, which have been investigating Megaspeed since 2024, state they have reasons to believe the company acted as a front to transship restricted Nvidia AI chips in China.
Singaporean authorities, including the Home Affairs Ministry, have also launched a probe into the matter, while Megaspeed has denied any wrongdoing.
Also Read | Nvidia, Jensen Huang sued over national security concerns after CEO's affair with suspected Chinese spy
Who is Alice Huang?
Also known as Huang Le, Alice Huang is a Chinese national who has been associated with Megaspeed, one of Nvidia's major customers in Southeast Asia.
US intelligence agencies concluded that she was a Chinese intelligence asset who had been gathering information for Beijing, according to The New York Times.
The newspaper reported that she was allegedly recruited by China's ministry of state security (MSS), the country's principal civilian intelligence agency, as part of an operation targeting Jensen Huang and Nvidia.
Citing a Chinese investment database, NYT and the New York Post reported that Alice Huang's professional background includes reported stints in television, banking and investment management. She previously worked as a television reporter with Hunan TV and China Central Television (CCTV), China's state broadcaster.
After this, Alice later worked at The Hongkong and Shanghai Banking Corporation (HSBC), where she was listed as an assistant to the president of its private banking division.
She reportedly went on to become a vice-president at CITIC Securities, one of China's major financial services companies.
Alice also worked at Shanghai Hexi Investment Management, also known as Hexi Capital, where she reportedly served as an executive director and fund manager.
(With inputs from agencies)
