Nvidia's financial disclosures indicate that Singapore contributes significantly to its revenue, claiming 22% in Q3 2025, despite the country's small population and regulatory environment for datacenters. Analysts question how such a high percentage is plausible when local usage of Nvidia's products appears minimal. This scrutiny intensified following revelations that Chinese DeepSeek models have excelled over US counterparts, prompting investigations into whether hardware transactions may be skirting US export bans through Singapore's international business landscape.
Nvidia's recent quarterly filings reveal Singapore as its second-largest market, accounting for 22% of revenue, raising questions about the accuracy of these figures.
The unexpected performance of China's DeepSeek large language models has led to scrutiny of Nvidia's hardware distribution, particularly through Singapore.
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