[c_o_n_v_e_x]

SG is very small country and yet someone was buying 1/3 of the volume of the US market in Q3.

The DC market in SG has a very low vacancy rate meaning there's very little available space.... i.e. where are all those GPUs going if the market has very little space available?

To play's devils advocate, this could be an Nvidia reporting quirk with all of sales in SE Asia being reported as "Singapore" but even then, the numbers still piqued my interest.

[_t9ow]

Singapore lifted its moratorium on new DCs in 2022 [1], and since then has been expanding its DC capacity aggressively [2].

You're also right that it could be a reporting quirk.

I don't think we can say definitively that Chinese companies didn't use Singapore as a conduit for purchasing advanced GPUs, I haven't come across any evidence for that. (If anyone knows otherwise, please correct me.)

[1] https://www.ashurst.com/en/insights/lessons-from-singapore-d... [2] https://themalaysianreserve.com/2025/01/24/singapore-data-ce...

[c_o_n_v_e_x]

This was also in the news last year: https://www.tomshardware.com/tech-industry/artificial-intell...