Megaspeed International: A $5bn Nvidia Customer Built on Empty Offices, Lottery Shops, and Shell Filings

A company that bought nearly $5bn in Nvidia AI chips has no visible operations at any of its registered addresses across four countries. The corporate structure reads like a textbook front.

Megaspeed International purchased nearly $5bn in Nvidia AI chips and advanced hardware over three years, making it one of the chipmaker's biggest foreign customers. Yet journalists visiting its offices across Singapore, Malaysia, Australia, and the US have found near-empty rooms, dilapidated storefronts, interior design firms occupying its registered addresses, and employees who cannot describe what the company does. The gap between the scale of the transactions and the physical reality of the enterprise is the story.

The corporate trail is deliberately opaque. Megaspeed's Australian subsidiary was registered in 2024 with a sole director, 29-year-old Shanghai-born Kai Kang, whose listed home address is a news agency and lottery retailer in rural Victoria run by his mother. She told Reuters her son is based in Shanghai and has nothing to do with the Singaporean parent. Megaspeed's owner, Swiftdata, lists a Singapore address occupied by an interior design firm for over four years. Kang is also registered as director of Megaspeed units in Malaysia, Indonesia, and Thailand. The intelligence dimensions are now in motion. US agencies believe former Megaspeed director Alice Huang was a Chinese intelligence asset who targeted Nvidia CEO Jensen Huang — no relation — through extramarital affairs, passing commercial information to Beijing. Jensen Huang resigned Friday. Singapore barred Alice Huang from re-entering after holding her passport from June 2025 to February over potential false declarations related to Megaspeed, ultimately releasing her with a stern warning. Taiwan has also barred her entry. Multiple governments are now investigating. Singapore police began probing Megaspeed in late 2025 over suspected domestic law breaches after a US senator requested the commerce department investigate whether the firm had diverted Nvidia chips. Malaysia announced Friday it is investigating a Megaspeed subsidiary over possible diversion of advanced AI chips. Australian former intelligence officials expect domestic security agencies have sought briefings from overseas counterparts this week. Michael Shoebridge, director of Strategic Analysis Australia and former deputy of the Australian Signals Directorate, called it "credible" to assess Megaspeed as a "front for Chinese intelligence" but noted nothing is certain. The Australian subsidiary could be legitimate business or designed to make the parent "look credible" by having overseas affiliates. ASIO declined to comment. China's foreign ministry has flatly rejected the spy allegations, calling them "unsubstantiated" and "nothing but smears." The structural question is not whether any single office is real but how $5bn in advanced AI hardware flowed through a corporate entity whose global footprint consists of phantom addresses and a 29-year-old director whose mother runs a lottery shop. Acting Australian Prime Minister Richard Marles acknowledged the broader environment: "We are living in a world where there is more espionage than there has been for a long time. A lot of that is particularly around emerging technologies." Nvidia's export control compliance apparatus either failed to detect or failed to act on a customer whose physical reality was discoverable by any journalist with a plane ticket. The resignation of Jensen Huang is the visible consequence, but the systemic question — how many Megaspeeds exist in the AI chip supply chain — remains unanswered.