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Singapore grants bail in alleged $390m Nvidia chip fraud

A Singapore court has granted bail to three men accused of deceiving suppliers of server computers containing Nvidia chips.

The suspects include two Singaporean men and one Chinese national.

Bail for the two Singaporean individuals was set at S$800,000 (US$600,000) and S$600,000 (US$450,000).

The Chinese national’s bail was set at S$1 million (US$748,500), and his release, if granted, requires an electronic monitoring device.

They were charged nearly two weeks ago with allegedly smuggling Nvidia chips and defrauding Dell and Super Micro by providing false information about the servers’ intended locations.

The total value involved in the transactions is approximately US$390 million, although the servers’ final destination remains uncertain.

Recent Nvidia developments

Timeline
11-Mar-2025 💼 Nvidia-backed AI firm signs $12b AI cloud deal with OpenAI
  • CoreWeave signs $11.9B deal with OpenAI
  • IPO filing reveals $1.92B revenue, $863.4M loss
06-Mar-2025 📉 Nvidia stock drops on Nasdaq slump, China risks
  • Nvidia’s stock down 30% in 2023 amid pressure.
  • Analysts project support levels as low as $90.
04-Mar-2025 📉 Nvidia loses $265b as Trump confirms new tariffs
  • Nvidia shares fall 9% after Trump tariff news
  • Market cap drops $265B despite strong earnings report
04-Mar-2025 🚀 Nvidia-backed AI firm CoreWeave files for $35b IPO
  • CoreWeave files for IPO on Nasdaq as ‘CRWV’
  • Valuation target exceeds $35 billion amid growth

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