Is Malaysia investigating Megaspeed? Not yet. Malaysia has not opened an investigation into Speedmatrix, the Malaysian subsidiary of Singapore cloud provider Megaspeed, Minister of Investment, Trade and Industry Johari Abdul Ghani said on Tuesday 10 November, according to news portal Malaysiakini, The Business Times reported. He said the ministry had not been presented with evidence that Speedmatrix broke Malaysian law.
The statement matters because Megaspeed is at the centre of the scandal engulfing Nvidia. Its former executive Alice Huang is the woman US officials reportedly suspect of working for Chinese state security and whose relationship with Nvidia chief Jensen Huang has wiped hundreds of billions of dollars off Nvidia's value, as we reported in our analysis of the Jensen Huang affair. Malaysia, home to Megaspeed's local arm and planned data centre, now faces questions too.
What the minister said
Johari said Malaysia would assess any credible evidence or formal request from foreign authorities under its own laws and processes, and stressed that the country would not allow itself to be used as a channel to circumvent export controls. His comments came in response to questions about a December 2025 Megaspeed statement.
In that statement, dated 23 December 2025 and issued in response to a Bloomberg report, Megaspeed said it had undergone "multiple on site inspections and reviews" over the preceding six months by institutions including the US Commerce Department's Bureau of Industry and Security, Malaysia's trade ministry and Nvidia. It denied any wrongdoing and said the reviews found no evidence of illicit chip transfers.
The minister's comments leave an open question. If the ministry had not investigated, what checks did Megaspeed mean? The Business Times said it has asked the ministry whether it carried out the checks Megaspeed cited, which facilities were covered, what was found and whether they formed part of a formal investigation.
The Speedmatrix shipments
Speedmatrix received more than 200 shipments of Nvidia technology that is restricted from export to China between June 2024 and June 2025, The New York Times reported last year, citing trade records. Shipments to Malaysia are not illegal in themselves. The question US investigators are examining is whether chips or the computing power they provide ended up serving Chinese customers in breach of US rules.
The tech publication The Information has reported that hardware acquired by Speedmatrix later reached a Shanghai company linked to Alice Huang's family, part of a network it says moved about 240,000 restricted chips into China. Reuters said it could not verify that report. Megaspeed has described itself as a compliant and legitimate company, and there has been no public finding that it or Speedmatrix broke any law.
Bloomberg has reported that the US Justice Department is investigating Megaspeed, and Singapore police have been investigating the company since October 2025 over suspected breaches of Singapore law. Malaysia, by its minister's account, has not opened its own case.
Malaysia wants the data centres and the chips. The Megaspeed case tests whether it can also show Washington it is watching where the chips go.
The Johor data centre trail
Megaspeed's Malaysian plans go beyond Speedmatrix. It proposed a data centre at Bandar Cemerlang Industrial Park in Kota Tinggi, Johor, through MSFusion, which Bursa Malaysia listed developer Crescendo Corp described in exchange filings as another Megaspeed subsidiary.
The land deal ran into trouble. In a 27 August filing, Crescendo said its subsidiary's solicitors had issued a default notice to MSFusion over RM225.9 million in outstanding principal payments under an agreement to buy 52.54 acres. MSFusion was given 14 days to pay or face termination. On 9 September, Crescendo announced that the balance and late payment interest had been fully paid. The announcement did not identify the source of the funds.
Separately, Bloomberg reported in April that Bridge Data Centres told lenders in February that 68.4 megawatts of capacity previously earmarked for Megaspeed at one of its Malaysian facilities had been reassigned to cloud provider Zenlayer. The Business Times said it had asked Megaspeed and Crescendo for comment.
Why this matters for Malaysia
Malaysia has become one of the world's fastest growing data centre markets, especially in Johor, and it has courted AI investment aggressively. This week SoftBank, Grab and Petros committed 1.85 billion dollars of seed capital to Malaysian AI infrastructure, as we covered in our report on the SoftBank and Grab plan for Malaysia. That growth depends on continued access to advanced US chips.
Washington has made clear it is watching. US officials have pressed Malaysia and Singapore to stop restricted chips from leaking to China, and Malaysia introduced a permit requirement for exports of US made high performance AI chips in 2025. A perception that Malaysia is a weak link could invite tighter US rules on chip sales to the country, which would hit its data centre ambitions.
The risks for Malaysia include:
- tighter US licensing for advanced chips shipped to Malaysian data centres
- reputational damage with US customers and investors
- pressure to open formal investigations into companies linked to diversion cases
- delays or cancellations of projects tied to companies under scrutiny
The questions still open
The next steps will come from several directions. The Business Times is seeking answers from the trade ministry about Megaspeed's inspection claims. US investigations by the Justice Department continue, and any formal request to Malaysia would test Johari's pledge to act on credible evidence. Nvidia's own independent investigation and Jensen Huang's planned briefing to US lawmakers on 18 November could also produce new details.
For investors in Malaysian data centres, the case is a reminder that customer quality matters as much as power and land. Operators that can show clean compliance records and transparent ownership are likely to be favoured by chipmakers and US regulators.
For Malaysia's government, the challenge is balance. It wants to be seen as a neutral, open destination for technology investment, but it also needs Washington's confidence. How it handles questions about Speedmatrix will be watched closely in both capitals.
Is Malaysia investigating Megaspeed?
Not yet. Investment Minister Johari Abdul Ghani said on 10 November 2026 that Malaysia has not opened an investigation into Speedmatrix, Megaspeed's Malaysian subsidiary.
What is Speedmatrix?
The Malaysian subsidiary that Singapore cloud company Megaspeed set up in 2024.
Did Speedmatrix receive restricted Nvidia chips?
The New York Times reported that it received more than 200 shipments of Nvidia technology restricted from export to China between June 2024 and June 2025. Shipments to Malaysia are not illegal in themselves.
What did Megaspeed say about inspections?
In December 2025 it said inspections by the US Commerce Department, Malaysia's trade ministry and Nvidia found no evidence of illicit chip transfers. It denies wrongdoing.
Did Malaysia's trade ministry inspect Megaspeed?
That is unclear. The Business Times has asked the ministry whether it carried out the checks Megaspeed cited.
What did Johari Abdul Ghani say?
That there was no evidence Speedmatrix broke Malaysian law, that credible evidence or a foreign request would be assessed, and that Malaysia will not be used to circumvent export controls.
Where is Megaspeed's Johor data centre?
A proposed site at Bandar Cemerlang Industrial Park in Kota Tinggi, Johor, through affiliate MSFusion.
What was the RM225.9 million default?
Crescendo Corp said MSFusion defaulted on RM225.9 million owed for 52.54 acres of land; the balance and interest were later paid.
What happened at Bridge Data Centres?
Bloomberg reported that 68.4 megawatts earmarked for Megaspeed at a Malaysian facility were reassigned to Zenlayer.
Who else is investigating Megaspeed?
Singapore police since October 2025, and the US Justice Department, according to Bloomberg.
How is Megaspeed linked to Nvidia's CEO?
Its former executive Alice Huang is the woman whose relationship with Jensen Huang is under scrutiny after reports she was suspected of working for Chinese state security, which China denies.
Does Malaysia control AI chip exports?
Malaysia introduced a permit requirement in 2025 for exports of US made high performance AI chips.
Could the US restrict chip sales to Malaysia?
If Malaysia is seen as a weak link in export controls, Washington could tighten licensing for advanced chips shipped there.
Does this affect the SoftBank and Grab plan?
Not directly, but all Malaysian AI projects depend on continued access to advanced US chips.
What happens next?
Watch for answers from the trade ministry, US Justice Department actions and Jensen Huang's 18 November briefing to US lawmakers.
Malaysia's position on Megaspeed is clear for now: no evidence, no investigation. But the gap between that statement and Megaspeed's own claim of ministry checks, the reported restricted shipments and the troubled Johor land deal will keep questions coming. For a country betting its digital future on AI data centres, being seen as a reliable guardian of export controls may prove as important as power and land.
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