Singapore-based Megaspeed International, which has drawn international attention over its purchases of advanced artificial intelligence (AI) chips from Nvidia, has announced that it has hired a US law firm to conduct a comprehensive review of its compliance with US export control laws.
In a statement on Thursday (12 November), Megaspeed's Singaporean director, chairman and president Tan Yong Pong said the US law firm would conduct a full inventory of the company's graphics processing units (GPUs) and independently verify its export control compliance measures.
Tan said Megaspeed had cooperated with inspections by the US Department of Commerce's Bureau of Industry and Security and was prepared to cooperate fully with other relevant US government agencies.
He said: “Megaspeed takes its compliance obligations under US export control laws extremely seriously.”
He added that compliance was a fundamental priority for the company, which was committed to working with the US government constructively and transparently.
Megaspeed has recently come under scrutiny over its purchases of advanced Nvidia chips. Some of these chips are reportedly subject to US export restrictions intended to prevent China from obtaining cutting-edge computing technology.
The Financial Times reported this month that US authorities had considered placing Megaspeed on a trade blacklist over concerns that it might be involved in diverting controlled chips, but that a decision had been delayed.
Singapore's Ministry of Home Affairs said on 31 October that neither the government nor its officials had ever expressed concerns that former Megaspeed executive Alice Huang had close ties to Nvidia president Jensen Huang or was suspected of providing intelligence to China. The authorities had also never investigated her ties to China.
Megaspeed said in the statement that it “welcomes appropriate government scrutiny and is committed to demonstrating through concrete actions that it operates responsibly and in accordance with applicable US laws.”
Megaspeed was previously known as 7Road International, a Chinese gaming company. Alice Huang joined the company in March 2023 as a director and managing director. The company was renamed Megaspeed International at the same time.
Alice Huang left Megaspeed's board on 10 November 2023, the same day that Tan and another director, Kang Kai, were appointed.
Kang subsequently left the Singapore-registered company's board on 28 December 2023, but his name still appears in the registration documents of Megaspeed's overseas subsidiaries.
