Nvidia and its partners built a system to bypass U.S. export restrictions

The sophisticated system worked as follows: any GPUs that needed to be delivered to China or to serve Chinese companies would go through Singapore as a billing location and/or through Chinese subsidiaries established in Singapore. In these subsidiaries, Chinese control shareholders were given to local Singaporean Chinese, but effective control remained with the parent Chinese company. This setup worked well for ByteDance and others.

Second, any GPUs intended for the Middle East, such as the UAE, or for Russia, would go through India. I covered one distributor that served clients in the UAE, and Bloomberg covered an Indian distributor that helped Russian companies acquire Nvidia GPUs.