A senior Singapore government official said only a small portion of Nvidia’s sales within the country will actually appear in the country. Bloomberg is investigating whether Washington smuggled the banned Nvidia GPU through the island state, Singapore’s second minister of trade and industry, when Tan looks at the land. So they said they have issued this statement.
“The physical distribution of the products Nvidia sells to Singapore accounts for less than 1% of Nvidia’s overall revenue,” Tan said. He then added: “It is a common practice for global entities to centralize billing for hub-procured goods and services, but this is separate from where products are shipped far from checks,” which is what Singapore said. Despite reports that it accounted for almost 28% of Nvidia’s revenue in 2024.
$NVDA’s previous quarter Singapore revenue was more than half of US revenue, at $7.7 billion (+185% year-on-year). Don’t pretend that the US is the only region with chip access. pic.twitter.com/whglf84v9djanuary 28, 2025
This means that businesses based in Singapore can order tips from Nvidia so that they have a marked billing address but are delivered to other countries. However, Tan said the business strategy is not new and does the same as many multinationals operate across borders. Ships items directly wherever you need them.
In fact, Nvidia itself has long said (PDF), “Revenue from a geographic area is based on the customer’s billing location. Customers and delivery locations may differ from those of the customer’s billing location. For example, in Singapore Most of the related shipping revenues were outside of Singapore, and shipping to Singapore was insignificant.”
However, Singapore is closely linked to China. Especially in business. This is especially true in the high-tech sector where many Chinese companies have major offices on the island. For example, Tiktok, owned by Chinese tech giant Bytedance, is headquartered in the country and is also a Singaporean CEO. Nevertheless, the country also considers the US to be an important strategic partner in both trade and politics, with the military of both countries being allowed to use each other’s facilities on the island and Guam. .
Countries in particular have now been engaged in trade wars, in which various bans and sanctions have come into effect in recent years, so countries must carefully balance their ties with China and the United States. Singapore is likely not wishing to be on Washington’s Entity List, especially as it is considered a business-friendly country in itself, and it is likely that it will not be on the list, particularly in the technical field. It means there is. For this reason, Tan has been working closely with US authorities in the Singapore government to investigate this inconsistency and will not tolerate the business using its Singapore address to avoid export controls set by other countries. He said.
