Singapore lifted its moratorium on new DCs in 2022 [1], and since then has been expanding its DC capacity aggressively [2]. You're also right that it could be

Singapore lifted its moratorium on new DCs in 2022 [1], and since then has been expanding its DC capacity aggressively [2]. You're also right that it could be a reporting quirk. I don't think we can say definitively that Chinese companies didn't use Singapore as a conduit for purchasing advanced GPUs, I haven't come across any evidence for that. (If anyone knows otherwise, please correct me.) [1] https://www.ashurst.com/en/insights/lessons-from-singapore-data-centres/ https://www.ashurst.com/en/insights/lessons-from-singapore-d... [2] https://themalaysianreserve.com/2025/01/24/singapore-data-center-market-set-to-grow-from-usd-1-3-billion-in-2023-to-usd-3-billion-by-2032-driven-by-a-9-53-cagr-and-strategic-role-as-asias-digital-hub-credence-research-inc/ https://themalaysianreserve.com/2025/01/24/singapore-data-ce...