business
Singapore seizes $42m mansion over Nvidia chip smuggling
Key takeaways
- Screenshot from Google Maps Image caption, The house is located in an upmarket area of Singapore
- Police in Singapore have seized a multi-million dollar luxury home that was allegedly bought using proceeds from smuggling Nvidia artificial intelligence (AI) chips.
- The property last changed hands for 55 million Singapore dollars (£32m; $42.5m), with at least two-thirds of its purchase price allegedly funded by illicit earnings, authorities said on Wednesday.
Screenshot from Google Maps Image caption, The house is located in an upmarket area of Singapore
Police in Singapore have seized a multi-million dollar luxury home that was allegedly bought using proceeds from smuggling Nvidia artificial intelligence (AI) chips.
The property last changed hands for 55 million Singapore dollars (£32m; $42.5m), with at least two-thirds of its purchase price allegedly funded by illicit earnings, authorities said on Wednesday.
Article preview — originally published by BBC Business. Full story at the source.
Read full story on BBC Business →
More top stories
Also covered by
TechCrunch AI
Nvidia competitor Etched hits $5B valuation, $1B in sales for AI chip
Bloomberg Tech
Taiwan Detains Super Micro Workers in China Chip Smuggling Probe
CNBC
Nvidia mostly sat out the chip sector's best quarter ever. What needs to change?
Yahoo Finance
Traders Bet Big on Lisa Su: Why This Chip Titan Is Primed to Siphon Nvidia’s Data Center Dominance
Aggregated and edited by the Scoop newsroom. We surface news from BBC Business alongside other reporting so you can compare coverage in one place.
Editorial policy · Corrections · About Scoop