Singapore said its customs and law enforcement departments will continue to work closely with US counterparts amid concerns China AI firm DeepSeek obtained Nvidia Corp. chips through intermediaries on the island.

U.S. officials are investigating whether Chinese artificial intelligence startup DeepSeek skirted American export restrictions on advanced chip sales and bought advanced Nvidia (NVDA) semiconductors through third parties in Singapore,

The Trump administration is reportedly probing whether DeepSeek bought Nvidia’s advanced computer chips through Singapore – despite US export controls blocking the sale of the powerful technology to China-based firms.

Global investors staged a broad selloff in technology stocks on Monday, wiping out a staggering $593B in market value from Nvidia — an unprecedented one-day loss for any firm on Wall Street.

Stocks rose Friday as Apple led a broad rally following a strong investor reaction to its quarterly earnings report and the market closes out a whirlwind week highlighted by Nvidia’s record-breaking losses in reaction to China’s DeepSeek cheaper AI model and a flurry of earnings reports.