GPU manufacturer NVIDIA (NVIDIA) released its second quarter financial report this week, which revealed a striking number, which is the record of the acquisition of sales in Singapore, and the amount is only in the United States, becoming the company's second largest acquisition source in the world, even surpassing the Taiwan and Chinese markets.
According to CNBC, according to NVIDIA's financial report data, Singapore paid an aggregate US$10 billion in revenue for NVIDIA in the second quarter. Although this amazing achievement has led to many guesses on the turnover of AI chips in the market, the actual situation will be far more complicated than the surface.
report pointed out that NVIDIA's financial figures show that Singapore accounted for 22% and 21% of total revenue in the second quarter and first half of 2026. NVIDIA, however, clearly stated that its Singapore acquisition is not only limited to the AI/Data Center (DC) domain, but also includes games and other businesses. More importantly, NVIDIA revealed that Singapore is used for "centralized sales", which means that Singapore is not the final consumption place for NVIDIA products, but a way to transfer goods. Although NVIDIA's products are almost everywhere else, according to the US Public Accounts' Standards, the real locks that require invoices are recorded on NVIDIA's Singapore account.
Although NVIDIA does not specifically explain the specific reasons why Singapore is doing centralized sales, the industry generally believes that tax efficiency, logistics support and supervision strategies are the main considerations. NVIDIA also made clear clarifications about the market's doubts about the transfer of AI chips from Singapore to China, saying that in the second quarter and first half of 2026, more than 99% of controlled data centers were calculated to be collected. Although their bills were opened to Singapore, the orders were from American customers. This statement clearly shows that the possibility of AI chips flowing from Singapore to China is slim. NVIDIA also emphasized that it did not find any signs of transfer.
In addition, in addition to AI/DC businesses, part of Singapore's revenue comes from game sales. Many AIBs (such as ZOTAC, Manli and Inno3D) have dedicated production facilities in Singapore, which also pays for some purchases from Singapore. Therefore, although Singapore plays a complex role in NVIDIA's financial report, its central position as a reversal cannot be underestimated. For NVIDIA executive chief Huang Rensheng, besides China, Singapore is undoubtedly one of the most important regions of NVIDIA at present.