Nvidia Chips Worth $2B Moved Through Malaysia to Bypass US Export Controls

A Singapore-registered firm called Megaspeed spent nearly a year quietly moving almost $2 billion worth of Nvidia's most advanced AI chips through its Malaysian subsidiary, Speedmatrix Sdn Bhd.

Trade records reviewed by The New York Times show that the shipments, which numbered more than 200 between June 2024 and June 2025, were routed through Malaysia to avoid U.S. export controls.

Nvidia's hardware was supplied to Speedmatrix via a distributor, while the Malaysian company sold servers built with these chips to systems integrators in Malaysia, which then rented compute capacity to customers in China over the internet.

The pattern exposes a loophole in the Entity List designation, which stops a company's name from appearing on an export license but does not stop its hardware or customer relationships from moving through friendlier jurisdictions.