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Short seller Culper Research alleges Alibaba is the end customer for a data center project involving Megaspeed and YTL. The report claims Megaspeed's balance sheet grew from $33 million to $3 billion by end of 2024 due to $2.9 billion in deposits.
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Summary by ByteBrief

Alleged Chinese spy linked to Nvidia chief pitched AI chips deals to investors

Sources: Nvidia verbally told cloud compute clients to sell 51%+ of their services to non-Chinese companies, imposing new limits on China's access to AI chips (Financial Times)

This Nvidia-Backed AI Startup Is Helping Chip Giants Save Time And Money