Singapore Nvidia’s revenue reaches the highest record, now the second from the US, although the state remains the ‘Center of Transshipment’ & not the True Consumer Market

New Nvidia -Newly reported Q2 revenue, and the interesting facts mentioned were that the company’s revenue from Singapore had reached the highest record, ranked second from the US.

Nvidia’s revenue from Singapore reaches around $ 10 billion, becoming an important area for the company’s business

Team Green’s quarterly income is indeed an interesting story when you see the company’s situation in Front AI, especially with the deadlock that is present in China. However, another region that has become a key factor for NVIDIA Q2 income is Singapore. According to the company’s financial statements, Singapore contributed around $ 10 billion of the total Q2 revenue, which came in second from the US, and in front of Taiwan and China. This fact has created some misunderstandings, with retailers asking for ‘diversion of chip ai’, but this is the reality.

Based on what Nvidia revealed, Singapore’s income was not only limited to the AI/DC segment; It also takes into account games and other streams. For those who are not aware, some disgrace is located in Singapore, with companies such as Zotac, Manli, and InNO3D which have special production facilities in the region, so that some of Singapore’s income must be driven by game sales. But this is not the whole story. In the 10-Q archiving, Team Green revealed that this region was used for “centralized invoice”, which means Singapore is not a final consumer, but a way to re-direct shipping.

Singapore represents 22%, and 21% from the second quarter of the first and first half of the 2026 Fiscal Year Total Revenue Based on Customer Billing Location, each. Customers use Singapore to focus an invoice while our products are almost always sent elsewhere.
– Submission of 10-Q Nvidia

There are many reasons behind Singapore who act as the ‘Center of Transshipment’, and while Nvidia has not specifically revealed it, factors such as tax efficiency, logistics support, and regulatory strategies are more common reasons for companies such as Nvidia to have centralized invoicing mechanisms. The US GAAP accounting rules clearly state that revenue must be associated with an entity that issued an invoice, which is why sales are recorded in Singapore Nvidia rather than a place where the final user is. To further clarify the Claims of the Transfer of AI Chip, this is what Nvidia said:

More than 99% of the controlled data center computing revenue collected to Singapore is for orders from customers based in the US for the second quarter of the first and first half of the 2026 fiscal year.
– Submission of 10-Q Nvidia

This clarifies that the possibility of AI chip leading from Singapore to China is not there, and apart from what the claims say on the internet, it is proven that Nvidia did not see the signs of the transfer. Nvidia Singapore acted as a transfer mechanism for DC or similar shipping, and there was also a request from domestic companies. It is still interesting to see how big the role is actually played by Singapore for Nvidia today, given that, apart from China, it is perhaps the most important area for Jensen.