GSM gold starGSM Global
中文版 · Chinese

Follow-Up: Megaspeed Issues First Public Statement, Says It Cooperated With U.S. Inspections and Retained a U.S. Law Firm to Census Its GPUs

Thursday, November 12, 2026 · Finance · GSM News

Singapore-based cloud computing firm Megaspeed posted a statement on its website on November 12, its first public statement since the scandal erupted. In the statement, Chairman and Chief Executive James Tan Yong Pong said Megaspeed has cooperated with inspections by the U.S. Department of Commerce's Bureau of Industry and Security (BIS) and has retained a U.S. law firm to lead a comprehensive census of all the graphics processing units (GPUs) the company holds and to independently verify its export-control compliance practices.

"Compliance is a fundamental priority for the company, and Megaspeed is committed to working constructively and transparently with the US government," Tan said. He said the company has cooperated with the Bureau of Industry and Security's inspections and "stands ready to cooperate fully with any other relevant US government authority." The statement said Megaspeed takes its compliance obligations under U.S. export control laws "extremely seriously," welcomes government scrutiny, and intends to show through concrete actions that it operates responsibly and in line with U.S. law.

Singapore police said in October that they were investigating Megaspeed over suspected breaches of Singapore's domestic laws. In an October 31 clarification, Singapore's Ministry of Home Affairs said Singapore's government and officials had never said Alice Huang was involved in espionage and had not investigated her on that basis, while adding that investigations into Megaspeed were continuing. According to Reuters, both the U.S. and Singapore investigations remain ongoing.

Megaspeed is an Nvidia cloud partner in the Asia-Pacific region, and its former executive Alice Huang (Huang Le) and her dealings with Nvidia Chief Executive Jensen Huang have been at the center of recent U.S. media investigations. According to The New York Times and other outlets, U.S. intelligence officials assessed that Alice Huang had links to China's Ministry of State Security, an allegation that has not been established. U.S. authorities have also looked into whether Megaspeed helped Chinese businesses gain access to restricted Nvidia chips; Megaspeed has denied any involvement in illegal diversion and has said earlier inspections by the Bureau of Industry and Security and other agencies found no evidence of violations, a claim that has likewise not been independently established. Jensen Huang has acknowledged to employees that he was unfaithful to his wife, and Nvidia's board has opened an independent investigation, saying it has no reason to believe U.S. national security or Nvidia secrets were compromised. GSM will continue to follow official developments.

Reference: Reuters

Related: Jensen Huang Resigns as NVIDIA CEO, Effective Immediately: CFO Kress Named Interim CEO as Board Launches Search

Source: Megaspeed

Published by GSM · USA (original Chinese edition)

Photo: 图:英伟达位于加州 Santa Clara 的总部大楼(Endeavor 大楼),入口上方为英伟达标志。GSM 固定图库照片。 / Photo: Nvidia's headquarters (the Endeavor building) in Santa Clara, California, with the Nvidia sign above the entrance. GSM file photo.

Story Timeline
  1. 2026-10-29A Bar Photo Fuels 'Spy' Buzz Online: Jensen Huang and Alice Huang Seen Together Twice in Taipei as Huang Calls the Dealings Normal
  2. 2026-10-30Nvidia Rejects Report of a Chinese Spy Near Jensen Huang, Saying Singapore Cloud Executive Had Only Ordinary Business Contact
  3. 2026-11-04Three House Committee Chairs Ask Nvidia's Jensen Huang to Give a Closed-Door Briefing on November 18 on His Contacts With Alice Huang
  4. 2026-11-08Nvidia Senior Director Madison Huang Cancels South Korea Trip at Short Notice; Yonhap Cites Family Reasons
  5. 2026-11-08Jensen Huang Admits Infidelity to Staff as Nvidia Board Launches Independent Investigation
  6. 2026-11-08When a Founder's Private Life Becomes a Public Company's Business
  7. 2026-11-08Follow-Up: Rubio Oversaw Classified Memo Warning Top Officials About Jensen Huang's Close Ties to Alice Huang
  8. 2026-11-08Follow-Up: Trump Calls Nvidia's Huang an 'Honorable Guy,' Says He Has Not Discussed the Allegations With Him
  9. 2026-11-09Follow-Up: China's Foreign Ministry Dismisses "Chinese Spy" Claim Linked to Nvidia as a Baseless Smear
  10. 2026-11-09Follow-Up: Musk and Ackman Publicly Back Jensen Huang as Nvidia Shares Tumble More Than 6% in Frankfurt on Monday
  11. 2026-11-09South Korea Says Nvidia Issues Won't Affect Contracted GPU Supplies
  12. 2026-11-09Nvidia Closes Down 4.29% at $178.64, Falling Alone as Market and Chip Peers Rally
  13. 2026-11-09Follow-Up: With the November 11 Reply Deadline Near, Nvidia Has Yet to Confirm Whether Jensen Huang Will Attend the Closed Congressional Briefing
  14. 2026-11-09Follow-Up: Trump Says He Called Jensen Huang, Who Said He Had 'Absolutely No Idea' She Was a Spy: 'I Really Believe Him'
  15. 2026-11-09Jeffries Says He Strongly Supports Putting Restrictions on Advanced Chip Exports to China Into the Defense Authorization Bill
  16. 2026-11-10Nvidia Falls Another 5 Percent to About $168.89: Two-Day Slide Erases Roughly $470 Billion in Market Value
  17. 2026-11-10Sen. Kevin Cramer Calls on Jensen Huang to Resign, Citing Blackmail Risk; Schumer Demands Full Accounting on Chip Bills
  18. 2026-11-11Viral 'Letters' From Jensen Huang's Wife and Daughter Are Fabricated; Neither Has Made Any Public Statement
  19. 2026-11-11Follow-Up: Rep. Lieu Says Trump Administration '1,000 Percent' Too Deferential to Nvidia; Lofgren Sees Momentum to Curb Chip Sales to China
  20. 2026-11-11Asian American Journalists Association Criticizes Surname Punchlines in Jensen Huang Coverage, Naming The Economist and the New York Post
  21. 2026-11-11Baird Downgrades Nvidia to Neutral and Slashes Its Price Target to $200 From $500
  22. 2026-11-11Shareholders Sue NVIDIA and Jensen Huang in Class Action Alleging Misleading Statements on Megaspeed Ties
  23. 2026-11-11Follow-Up: As Jensen Huang's Reply Deadline Passes, a House Chair Says Subpoenas Are Likely If He Does Not Agree to a Closed-Door Briefing
  24. 2026-11-11New York Times Reports Nvidia Board Discussed Jensen Huang's Future
  25. 2026-11-11Times Names Nvidia VP Kimberly Powell in Huang Investigation; Board Reportedly to Meet on His Future
  26. 2026-11-11Follow-Up: Senators Warren and Coons Tell Three Top Officials to Preserve All Nvidia China Export Records
  27. 2026-11-11Bessent Reportedly Confronted Lutnick Over Why Megaspeed Is Not on the Entity List; Commerce Denies Any Clash
  28. 2026-11-12Reuters: Blacklisted Northwestern Polytechnical University Bought Nvidia H200 Chips via a Domestic Reseller; China's Foreign Ministry Responds
  29. 2026-11-12Follow-Up: Megaspeed Issues First Public Statement, Says It Cooperated With U.S. Inspections and Retained a U.S. Law Firm to Census Its GPUsThis story
  30. 2026-11-12Follow-Up: Taiwan Revokes Alice Huang's Entry Permit, Interior Minister Says She Cannot Return
  31. 2026-11-12Jensen Huang Resigns as NVIDIA CEO, Effective Immediately: CFO Colette Kress Named Interim CEO as Board Launches Search
  32. 2026-11-12Nvidia Shares Plunge at Thursday's Open, Down More Than 14% Intraday as Market Value Dips Below $4 Trillion
  33. 2026-11-12Follow-Up: Himes Says Alice Huang's Role Is Still Unclear; Intelligence Chiefs Could Not Say Whether the FBI Has Opened a Case
  34. 2026-11-12Follow-Up: Trump Says Only One Man Can Succeed Jensen Huang at Nvidia: Apple's Tim Cook
  35. 2026-11-12Follow-Up: Singapore's MHA Says Evidence Against Alice Huang Was Insufficient; She Was Sternly Warned and Barred From Re-Entry for Giving Police Inaccurate Information
  36. 2026-11-12House Speaker Johnson Says Congress Is Forming a Consensus on Limiting Chip Exports to China, With Huang Expected to Testify Within a Week
  37. 2026-11-12China's Foreign Ministry Responds on Alice Huang: Mao Ning Says She Is Not Aware of Reports She Is in Beijing, Urges U.S. to Stop Fabricating a Spy Narrative
  38. 2026-11-12Jensen Huang Agrees to Testify Behind Closed Doors Before Thanksgiving, Foreign Affairs Chairman Mast Says
  39. 2026-11-12China's Foreign Ministry: Beijing and Washington in Close Contact on Leaders' Interactions, Ready to Implement Presidents' Consensus
  40. 2026-11-12Follow-Up: Democrats Vie to Lead Nvidia Probes; Incoming Foreign Affairs Chair Meeks Plans Dedicated Subcommittee
  41. 2026-11-12Bloomberg: Manhattan Federal Prosecutors Probe Whether Alice Huang-Linked Entities Smuggled Super Micro Products to China
  42. 2026-11-12Nvidia Interim CEO Kress Writes to Employees Expressing Confidence; Company-Wide Meeting Set for November 18
  43. 2026-11-12Follow-Up: Trump Calls Huang Resignation 'a Horrible Thing, So Sad,' Says Huang Is Going Through Hell
  44. 2026-11-12Follow-Up: Senate Banking Chair Scott Demands Testimony From Huang and Lutnick, Warns of Subpoenas
  45. 2026-11-12Follow-Up: Trump Called Huang on Tuesday to Urge Him to Fight for His Job, the New York Times Reports
  46. 2026-11-12Follow-Up: White House Officials Are Discussing Commerce Secretary Lutnick's Future, Reuters Reports, as Lawmakers Step Up Export-Control Criticism
  47. 2026-11-12Jensen Huang to Forfeit About $108 Million in Unvested Equity as His Fortune Falls by More Than $6 Billion in a Day
  48. 2026-11-12CNBC: Alice Huang's Shareholdings Lead to a Huawei Cloud Data Center, Tying Jensen Huang's Admitted Affair Partner to Nvidia's Biggest Rival in China
  49. 2026-11-12Fifth Person Charged in Singapore Nvidia Chip Server Case: Shi Bingzhe, 34, Faces 41 Charges
  50. 2026-11-12Follow-Up: Jeffries Calls for a Classified Briefing for All Lawmakers on Nvidia, Slams Trump's Cook Endorsement as Free-Market Interference
  51. 2026-11-12Follow-Up: Attorney General Blanche Says the Justice Department Has Reached No Conclusion on Whether Alice Huang Is a Spy; Trump Says the Same Day It May Not Have Been Determined
  52. 2026-11-12Follow-Up: Democratic Lawmakers Name Rubio and Lutnick as Potential Investigation Targets, Saying Both Must Answer What They Knew on Nvidia Chips
  53. 2026-11-13Follow-Up: Malaysia Probes Whether Megaspeed Unit SpeedMatrix Re-Exported Nvidia Chips; Trade Ministry Says It Never Cleared Either Company
  54. 2026-11-13Follow-Up: China's Foreign Ministry Answers on Alice Huang and Nvidia Chips: Spy Label Already Addressed, Not Aware of Shanghai Data Center Report
  55. 2026-11-13Nvidia Slides Another 3.8% to About $160 at Midday as U.S. Stocks Surrender Early Gains; Nasdaq Down 1.42%
  56. 2026-11-13Reuters Investigation: More Than $3 Billion in Chinese Super Intelligence (SI) Projects Rely on Restricted Nvidia Chips
  57. 2026-11-13Follow-Up: Commerce Secretary Lutnick Agrees to Testify Before the Senate Banking Committee on December 10; Spokesperson Calls It a Voluntary, Proactive Appearance
  58. 2026-11-13Follow-Up: Bessent Publicly Faults Commerce for Delay in Blacklisting Megaspeed; White House Says Trump Retains Full Confidence in Lutnick
  59. 2026-11-13Follow-Up: Huang Reportedly Retains Two Paul Weiss Litigation Partners as Personal Counsel; House Interview Letter Addressed Directly to His Lawyer
  60. 2026-11-13Nvidia Board Reportedly Approached Arm CEO Rene Haas on Succeeding Huang; Board Says No Candidate Has Been Formally Engaged
  61. 2026-11-13Colette Kress Steps Up: NVIDIA's Finance Chief of 13 Years Takes Over as Interim CEO, With Nov. 17 Earnings as First Test
  62. 2026-11-13Nvidia Closes Down 2.01% at $162.85, Market Value Below $4 Trillion as Nasdaq Falls 0.91%
  63. 2026-11-14Follow-Up: NVIDIA Employees Demand Huang's Return: Internal Post Draws 1,600+ Comments, WIRED Reports
  64. 2026-11-14Follow-Up: CZ, Sarah Guo and Garry Tan Speak Out as Huang's Resignation Stirs Debate in Chinese Entrepreneur Circles
Latest in Finance