Short seller Culper Research disclosed a short position in Nvidia, alleging more than 20% of the company’s FY2026 compute revenue remains tied to China despite US export restrictions. The report claims Nvidia-linked products were diverted through Southeast Asian intermediaries including Megaspeed and Malaysia-based Speedmatrix, with alleged connections to Alibaba-backed procurement channels. Culper also alleged Nvidia had the ability to detect diversion activity and questioned CEO Jensen Huang’s

Short seller Culper Research disclosed a short position in Nvidia, alleging more than 20% of the company’s FY2026 compute revenue remains tied to China despite US export restrictions. The report claims Nvidia-linked products were diverted through Southeast Asian intermediaries including Megaspeed and Malaysia-based Speedmatrix, with alleged connections to Alibaba-backed procurement channels. Culper also alleged Nvidia had the ability to detect diversion activity and questioned CEO Jensen Huang’s relationship with Megaspeed-linked executives. The firm argued Nvidia’s China business is now facing structural decline as Beijing increasingly favors domestic AI hardware alternatives.