Alibaba-Megaspeed financing link traced via S’pore, Malaysia units, allegedly to buy Nvidia servers

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Alibaba-owned Singapore firm had financial ties with Megaspeed’s Malaysia unit amid US chip probe Read more at straitstimes.com.

Speedmatrix, one of Megaspeed’s Malaysia subsidiaries, has an office in the Eco Botanic township in Johor.

SINGAPORE – A Singapore company owned by Chinese tech giant Alibaba had a financial arrangement with the Malaysian subsidiary of Megaspeed International, a major Nvidia chip buyer under scrutiny over the possible diversion of advanced artificial intelligence chips to China.

Corporate records obtained by The Straits Times show that Speedmatrix, Megaspeed’s Malaysian subsidiary, pledged specified IT and network equipment, intellectual property and related rights to Apex Enterprise Solutions (Singapore) under an agreement dated June 18, 2024.

The arrangement gave Apex security over the assets should Speedmatrix fail to meet certain contractual obligations.

Malaysian corporate records show that the arrangement remained active as at Nov 11, 2026.

The financial connection was highlighted in a May report by US short-seller Culper Research, which alleged that Alibaba may have channelled billions of dollars through Apex to finance Megaspeed’s purchases of Nvidia chips.

The research firm, which had taken a position that would benefit from the fall of Nvidia’s share price, suggested that Alibaba had provided the funds to Apex, which may have passed a substantial portion to Megaspeed for distribution to its overseas subsidiaries.

Apex was incorporated in Singapore in July 2023 and it is registered at Lazada One in Bras Basah Road, which is leased by Alibaba and its South-east Asian online shopping unit, Lazada Group.

Accounting and Corporate Regulatory Authority records show that Apex’s immediate holding company is Cloud Intelligence (Cayman) Holding Limited.

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