BLK ▲ +0.5% - BlackRock, Inc. The Wall Street Journal reports new details of Nvidia's (NVDA) China-linked business network, including nearly $12B in Megaspeed chip orders and pressure on overseas cloud partners to reduce Chinese involvement. Washington is developing new restrictions on the region's AI infrastructure. * Megaspeed Records: WSJ-reviewed records show Megaspeed arranged to send nearly $12B in advanced Nvidia chips to Chinese companies between March 2024 and June 2025. Orders covered hundreds of thousands of chips, but actual deliveries and origins remain unclear. * Preferred Access: Sources say Alice Huang and her associates used connections with Jensen Huang to secure Nvidia Cloud Partner status. Industry sources say the program offered preferred access to scarce GPUs, often based on major customer commitments. Alibaba ($BABA) was identified as Megaspeed's prospective customer. * Nvidia's Restrictions: WSJ says Nvidia's informal Chinese-customer limits at many overseas cloud partners shifted between 30% and 49% without written contractual terms. Nvidia also reportedly urged some partners to remove Chinese nationals from top management and Chinese investors. * Malaysian Investments: Aolani's investors helped fund roughly $2.5B in Malaysian hardware by early 2026, with ByteDance as its anchor customer. Alibaba reportedly plans to use Nvidia-powered servers at BlackRock-backed ($BLK) Vena's Senawang data-center development. * Export Crackdown: Commerce is developing rules requiring licenses for advanced chips, including Blackwell, exported to Malaysia, Indonesia and Singapore. The licenses would prohibit Chinese customers' remote access. Malaysia is investigating Megaspeed and its local affiliate over possible chip re-exports. * Geographic Shift: Cloud providers are exploring Japan, Brazil, Central Asia and Europe for new computing capacity serving Chinese customers as scrutiny of Southeast Asian facilities grows. 15-NOV-2026 09:07 AM ET