"Bill to" vs "ship to," as Nvidia claims, doesn't explain why Singapore's share of revenue increased from 9% to 22% in two years, unless you think that American multinational companies didn't bill to Singapore until two years ago, and suddenly all switched — which there is no evidence for. Coincidentally, "two years ago" lines up with when the Hopper chip ban went into effect. That's obviously sketchy, which is why people are suspicious.