Other-News

Story: Culper Research Shorted Nvidia Over 20% of Compute Revenue Tied to China Rerouting

By Maheen Hernandez

1 / 15

The Intermediary Network Culper Named. Culper's report got specific. It named Singapore's Megaspeed, Malaysia's Speedmatrix, and Giga…

2 / 15

Taiwan Raids an Nvidia Employee's Home. July brought the first hard legal action. Taiwanese prosecutors searched both the home and…

3 / 15

What This Means for Nvidia's Valuation. For traders and investors, the Culper short is a reminder of how fast regulatory exposure can…

4 / 15

Culper Research called it early. The short seller bet against Nvidia after suspecting the chipmaker was quietly funneling AI chip sales into China through neighboring countries —…

5 / 15

Jensen Huang told investors in November 2025 that Nvidia's China sales would be zero for the foreseeable future, pointing to U.S. export control measures as the reason.

6 / 15

Culper's report got specific. It named Singapore's Megaspeed, Malaysia's Speedmatrix, and Giga Computing — a subsidiary of Taiwan's Gigabyte — as key players in what it described…

7 / 15

And then there's the quote that probably made Nvidia's legal team nervous. A former high-level Nvidia employee — no name given in the report — told Culper that Megaspeed was "the…

8 / 15

Nvidia pushed back. The company said it had conducted global data center tests to check compliance and wasn't bypassing export regulations.

9 / 15

July brought the first hard legal action. Taiwanese prosecutors searched both the home and workplace of an Nvidia employee accused of smuggling restricted chips to China.

10 / 15

Related: Galaxy Digital Posts $85M Q2 Loss as Crypto Rout Hits Revenue Hard

11 / 15

The timing made people pay attention. A CEO-level meeting with a senior U.S. trade official on the exact day domestic prosecutors are raiding one of your employees' homes is the…

12 / 15

The raids put Nvidia's regional operations under a spotlight that's hard to dim. Taiwanese authorities don't conduct residential searches lightly — that kind of escalation…

13 / 15

For traders and investors, the Culper short is a reminder of how fast regulatory exposure can reprice a stock. Culper spotted the discrepancy before any legal action was public.

14 / 15

Nvidia's denial holds for now, but the investigation is still moving. Taiwanese prosecutors are clearly not done.

15 / 15

Related: Few and Far Founder Indicted Over $10M Investor Funds Diverted to Gambling and Miami Condo

The Currency Analytics

Want the full story?