Nvidia changed how it tallies revenue by region shortly after adding Singapore company Megaspeed International to an internal block list, and Singapore revenue then disappeared from its disclosures, the Wall Street Journal reported on Tuesday.
Nvidia last disclosed Singapore revenue for the fiscal quarter ended in July 2025, the report said. Revenue from Singapore was $10.2 billion, accounting for 22 percent of total revenue. That was up 81 percent from a year earlier. Two years earlier, the share was 8 percent.
Starting with the quarter ended in October 2025, Nvidia changed its regional revenue basis from customers' billing location to the location of customers' headquarters. Singapore was removed under the new standard, while the United States, Taiwan, China (including Hong Kong) and other categories remained. Subsequent filings show Nvidia reclassified most of its Singapore-billed revenue as U.S. revenue and raised its China and Taiwan revenue figures, the WSJ reported.
Singapore is where cloud computing company Megaspeed is headquartered. Megaspeed has been embroiled in sex scandal and espionage allegations that shook Nvidia and CEO Jensen Huang (젠슨 황), and the U.S. government suspects Alice Huang (앨리스 황), a former senior executive at Megaspeed, worked for a Chinese intelligence agency.
An Nvidia spokesperson said the company put Megaspeed on a block list in June 2025, banning sales and shipments, and is maintaining the measures.
It was not confirmed whether the reporting change and the Megaspeed block are related. Nvidia spokesperson Patrick Rutherford (패트릭 러더퍼드) did not answer questions about which category Megaspeed revenue had been classified under or whether the removal of the Singapore category was linked to the Megaspeed block, the WSJ reported.
In its quarterly report for October 2025, Nvidia explained that the new standard "better shows the geographic distribution of revenue". It said billing locations are simply where customers process invoices, while products are almost always shipped elsewhere. The WSJ said the headquarters location also does not show where chips are shipped, and that Nvidia should disclose its chip sales destinations transparently.