Megaspeed’s Megafast Money: Bad Tradecraft?
Summary
Singapore-based Megaspeed’s reported assets rose from $75 in 2022 to $2.98 billion in 2024, while its revenue reached $294 million that year. Singapore authorities are investigating the company amid questions about its business with Nvidia chips and allegations involving former director Alice Huang; Megaspeed says it did nothing wrong.Key Facts
- Singapore government records put Megaspeed’s assets at $75 in 2022, $32.9 million in 2023, and $2.98 billion in 2024.
- Megaspeed’s reported revenue rose from almost zero in 2023 to $294 million in 2024.
- Alice Huang served as a Megaspeed director from March to November 2023.
- Singapore authorities are investigating Megaspeed.
- Megaspeed has said it did nothing wrong.
- A November 5 Reuters report said Chinese authorities were impounding hundreds of thousands of Nvidia chips in Hong Kong.
- The account raises questions about Megaspeed’s alleged role in moving Nvidia chips to China and about possible espionage, but does not establish that Alice Huang acted as an intelligence asset.
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