Megaspeed arranged nearly $12 billion worth of Nvidia high-performance chip orders for Chinese companies between March 2024 and June 2025, according to documents reviewed by the Wall Street Journal, The Decoder reports. Megaspeed is owned by Alice Huang, the former lover of Jensen Huang, who has since been ousted as Nvidia's CEO.
According to the WSJ, Megaspeed shipped the chips to buyers in China with long-standing business ties to local tech giants. The orders covered several hundred thousand chips that the US had sought to keep out of China through export controls. Megaspeed reportedly gained preferential access to scarce AI chips as an Nvidia cloud partner, apparently because it counted Alibaba as a major client.
Nvidia officially reported $12.4 billion in China revenue over six months, or 7% of total revenue. Short seller Culper Research estimates that more than 20% of Nvidia's revenue in the last fiscal year came from Chinese customers, and The Decoder says a significant share of that business may have flowed through indirect channels.
