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The Investment, Trade and Industry Ministry has yet to launch an investigation into Speedmatrix Sdn Bhd, the Malaysian subsidiary of a Singaporean company accused of helping circumvent US restrictions on artificial intelligence (AI) chip exports to China.

Investment, Trade and Industry Minister Datuk Seri Johari Ghani said the ministry had not received any evidence indicating that Speedmatrix had breached Malaysian laws.

Nevertheless, Johari stressed that Malaysia would not tolerate any attempt to use the country as a transit point to bypass international export controls.

“The government will not hesitate to act firmly against any company found to have violated Malaysian law.

“Should credible evidence or a formal request from any foreign authority be received, it will be assessed and acted upon in accordance with our laws and processes,” he was quoted as saying in a newsreport.

He said the government was prepared to take firm action against any company found to have violated local laws, adding that any credible evidence or formal request from foreign authorities would be examined and handled according to Malaysia’s legal procedures.

Johari was responding to questions about a New York Times (NYT) report concerning alleged activities involving Speedmatrix and its Singapore-based parent company, Megaspeed International.

Megaspeed, which was appointed an official Nvidia cloud computing partner in 2023, has been linked to Alice Huang, a suspected Chinese spy who attracted international attention following reports of an alleged affair with Nvidia chief executive Jensen Huang.

Alice was reportedly a senior executive at Megaspeed and is believed to have maintained connections with the company even after stepping down from her position in late 2023.

According to the NYT report, Megaspeed purchased US$4.8 billion worth of Nvidia AI chips between June 2024 and February 2026, with the hardware subsequently shipped to data centres in Malaysia and Indonesia that appeared to cater to customers in China.

The report said such shipments could constitute a breach of US trade sanctions if the chips were sent to Malaysia and Indonesia on behalf of a Chinese company.

More Woes For Jensen

Meanwhile, Korea JoonAng Daily reported that Nvidia shareholders have filed a class-action lawsuit against Jensen and the company, accusing them of violating federal securities laws and seeking compensation for substantial financial losses.

The lawsuit was lodged on Monday at the US District Court for the Northern District of California, a day after Jensen acknowledged having an affair with a woman suspected of spying for China.

The plaintiffs claimed Nvidia’s share price plunged following revelations about Huang’s relationship with Alice and concerns over potential national security risks linked to her former employer, Singapore-based Megaspeed International.

Nvidia shares dropped 4.27% on the New York Stock Exchange on Monday, wiping out US$192.1 billion in market value in a single trading session.

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