Investigation details how billions' worth of export-restricted Nvidia AI chips are sold to China

A report by US NGO C4ADS described three schemes for supplying export-restricted Nvidia AI accelerators to China: purchases through universities, dropshipping via Southeast Asia, and shell companies. The largest channel was Megaspeed International with $4.6 billion in turnover.

• Three schemes: universities, dropshipping via Vietnam, India, and Malaysia, shell companies
• Megaspeed International supplied $4.6 billion worth in 2023–2025
• 56 chips worth $1.7 million sold through universities from July 2025 to January 2026
• Epoch AI: up to a third of China's compute capacity is smuggled GPUs