Summary
Fireship’s Code Report covers the abrupt departure of Jensen Huang as CEO of Nvidia and the export-control questions behind it. The video traces how US restrictions on selling advanced GPUs to China, introduced in late 2022, created a loophole based on where chips physically sit and who legally owns the buyer.
At the center is Mega Speed, a Singapore-based company that bought more than $4.8 billion of Nvidia hardware in about two years, racked it in data centers in Malaysia and Indonesia, and reportedly rented compute to Alibaba. The video walks through the short-seller report from Culper Research, titled “The China Problem,” which showed Mega Speed’s balance sheet growing from $33 million to $3 billion in a year and its Malaysian subsidiary pledging its business as collateral to an Alibaba-linked company.
It then follows the timeline: reporting from the New York Times about US intelligence concerns, Nvidia’s board initially expressing confidence in Huang, a second reported relationship with an Nvidia executive, and his resignation. The video closes on what it means for Nvidia, which named CFO Colette Kress interim CEO just days before an earnings call, and for the wider AI industry.
📺 Source: Fireship · Published November 12, 2026
🏷️ Format: News Analysis
