Singapore accounted for US$2.7 billion, or 15%, of Nvidia’s third-quarter revenue for its 2024 fiscal year. The country generated a 404.1% year-on-year increase in revenue for the chipmaker, dwarfing Nvidia’s overall growth of 205.5%.

The increase may be attributed to Singapore’s robust data center infrastructure, an analyst told CNBC, along with the city-state’s activities relating to AI and electric vehicles.

However, Nvidia explained that country revenue may not accurately reflect actual sales figures, as chips bought in Singapore may have been shipped to other countries.