ANA SWANSON, 孟建国, TRIPP MICKLE, KEITH BRADSHER2026年9月7日Aivres位于加利福尼亚州弗里蒙特市的研发中心和生产基地。 Minh Connors for The New York TimesFor years, a sign outside one of Silicon Valley’s many nondescript offices said Inspur, the name of one of China’s most important technology companies.在硅谷众多不起眼的办公楼中，有一栋门外多年来一直挂着“Inspur”（浪潮）的招牌——这是中国最重要的科技企业之一的名字。But in March 2023, the United States added Inspur Group to the so-called entity list, a blacklist with more than 3,000 companies that have been restricted from doing business with the United States because they are considered a security risk.但在2023年3月，美国将浪潮集团列入所谓实体清单。这是一份包含3000多家企业的黑名单，被列入其中的企业被认为存在安全风险，因此在与美国开展业务方面受到限制。Not long after, the Inspur sign was changed to Aivres, the name of Inspur’s new U.S. subsidiary. The subsidiary continued with its Chinese parent company’s work, helping it build a thriving global network to provide the computing power that supplies China’s growing artificial intelligence industry.没过多久，浪潮的招牌就被换成了Aivres——浪潮新成立的美国子公司的名称。这家子公司继续开展中国母公司的业务，帮助其建立一个蓬勃发展的全球网络，为中国不断壮大的人工智能产业提供所需的算力。The Silicon Valley subsidiary, which appears to be taking advantage of several loopholes in U.S. export law, has played a key role in Inspur’s sidestepping of American restrictions. Federal officials have begun looking into the subsidiary’s business, but it is not clear where that inquiry stands, said four officials who spoke on the condition of anonymity because they were not allowed to discuss it.这家硅谷子公司似乎利用了美国出口法律中的多个漏洞，在浪潮规避美国限制方面发挥了关键作用。四名官员透露，联邦官员已经开始调查这家子公司的业务，但因无权公开讨论此事而要求匿名。这四人表示，目前尚不清楚调查进展到了哪一步。The New York Times examined thousands of shipment records, corporate documents and supply contracts to piece together how Inspur’s network works. Reporters also visited sites in China, Southeast Asia and California, and spoke with more than a dozen current and former officials, tech executives and industry analysts.《纽约时报》查阅了数千份出货记录、公司文件和供应合同，逐步还原了浪潮网络的运作方式。记者还走访了中国、东南亚和加利福尼亚的多个地点，并采访了十多位现任和前任官员、科技高管及行业分析师。The U.S. government prohibits the most advanced chips, like the Blackwell chip from the Silicon Valley giant Nvidia, from being sent to any company in China. And U.S. law bars any company anywhere in the world from buying restricted products made with American technology on behalf of a blacklisted company. But there are few restrictions on companies in China that bar them from remotely gaining access to A.I. data centers in Southeast Asia.美国政府禁止将最先进的芯片——例如硅谷巨头英伟达生产的Blackwell芯片——运往中国的任何企业。美国法律还规定，世界上任何地方的企业都不得代表被列入黑名单的企业购买采用美国技术制造的受限产品。但对于中国企业从远程访问位于东南亚的数据中心这一行为则几乎没有限制。Whether Chinese firms are getting access to cutting-edge technology, particularly high-end computer chips made by Nvidia, has become a hot question in Silicon Valley and Washington, where executives and officials worry that China could use A.I. for hacking, surveillance and military operations.中国企业是否正在获得尖端技术，尤其是英伟达生产的高端计算芯片，已经成为硅谷和华盛顿的一个热门问题。企业高管和政府官员担心，中国可能将人工智能用于黑客攻击、监控和军事行动。Chinese A.I. companies are also closing the performance gap on systems made by their American competitors, raising concerns that the Chinese companies are using American technology.中国的人工智能公司也正在缩小与美国竞争对手在系统性能上的差距，这引发了人们对中国公司正在使用美国技术的担忧。From April 2024 through February 2026, Aivres exported at least $5.6 billion of advanced technology from the United States to Southeast Asia, including more than $3 billion of computers containing cutting-edge Blackwell chips and equipment from Nvidia, according to trade records analyzed by ImportGenius, a data firm, and The Times.根据数据公司ImportGenius与《纽约时报》对贸易记录的分析，从2024年4月至2026年2月，Aivres至少将价值56亿美元的先进技术从美国出口至东南亚，其中包括价值超过30亿美元、搭载英伟达最先进Blackwell芯片以及相关设备的计算机。That technology went to data centers and technology firms in Southeast Asia that serve China’s biggest tech firms, including Alibaba and ByteDance, trade records show. Megaspeed, a China-linked company that U.S. officials have been investigating over whether it smuggled restricted chips into China, was among that group of recipients. (One of Megaspeed’s subsidiaries has financial ties with Alibaba, according to Malaysian business documents.)贸易记录显示，这些技术被运往东南亚的数据中心和科技企业，而这些企业为中国最大的科技公司提供服务，其中包括阿里巴巴和字节跳动。Megaspeed也属于这些接收方之一。美国官员一直在调查这家与中国有关联的企业，怀疑它曾将受限制的芯片走私进入中国。（根据马来西亚的商业文件，Megaspeed的一家子公司与阿里巴巴存在财务关联。）Other technology went from Inspur’s network of global subsidiaries to an electronics manufacturer in Malaysia, which has been shipping unlabeled but high-priced servers to China, according to trade records drawn mostly from Malaysia and Indonesia. The servers are sent to a new firm, Maginfra, which has supplied high-performance computers to Chinese universities and state-owned firms, according to Chinese contracts and procurement records.根据主要来自马来西亚和印度尼西亚的贸易记录，还有一些技术则从浪潮的全球子公司网络流向马来西亚一家电子产品制造商，该制造商一直在向中国运送无标注品牌但价格昂贵的服务器。这些服务器被送往一家名为Maginfra的新公司，根据中国的合同和政府采购记录，Maginfra一直向中国的大学和国有企业供应高性能计算机。Inspur, Aivres, Maginfra, Alibaba and ByteDance did not respond to requests for comment. Megaspeed did not provide a comment. John Rizzo, a spokesman for Nvidia, said the company did not support “diverted products,” and sold to well-known partners “who work with us to ensure that all sales comply with U.S. export control rules.”浪潮、Aivres、Maginfra、阿里巴巴和字节跳动均未回应置评请求。Megaspeed也没有发表评论。英伟达发言人约翰·里佐表示，该公司不支持“产品被转用”，并称英伟达向知名合作伙伴销售产品，而这些合作伙伴“与我们合作，以确保所有销售都符合美国出口管制规定”。The Trump administration rolled back Biden-era restrictions on remote access by Chinese companies to data centers in other countries, and both the administration and Congress have been weighing new rules to replace them. Nvidia’s Mr. Rizzo said the business brought “tens of billions of dollars and high-paying jobs home.”特朗普政府撤销了拜登时代对中国企业远程访问他国数据中心的相关限制，政府和国会一直在酝酿制定新的规则来取代这些限制。英伟达的里佐表示，该业务“为美国带回了数百亿美元和高薪工作岗位”。The administration has also taken a more cautious approach to placing sanctions on Chinese firms, after attempts last year to expand the entity list drew blowback from China. Inside the Commerce Department, which enforces the list, six current and former officials described an agency that had lost its appetite for cases involving China or Nvidia. Ten months have passed without a firm’s being added to the entity list, the longest stretch in 18 years.在去年扩大实体清单的尝试招致中国反击后，本届政府在制裁中国企业方面也采取了更为审慎的态度。在负责执行该清单的商务部内部，六名现任和前任官员形容，如今该部门已经对涉及中国或英伟达的案件失去了兴趣。截至目前，已经有10个月没有任何一家企业被列入实体清单，这是18年来最长的一段空窗期。A White House official said the Trump administration had enacted the most rigorous export control regime in modern history and was committed to safeguarding America’s national security.一位白宫官员表示，特朗普政府已实施现代史上最严格的出口管制制度，并致力于维护美国国家安全。But Jordan Nanos, an analyst at SemiAnalysis, a tech research firm, who has studied Aivres’s business, said that the firm operated in the United States with the same servers, employees and offices as its parent company, Inspur, and that federal officials seemed to have done little about it.但科技研究公司SemiAnalysis研究过Aivres业务的分析师乔丹·纳诺斯表示，该公司在美国运营时使用的服务器、员工和办公室与其母公司浪潮完全相同，而联邦官员似乎对此举措甚少。“Are they trying to ban them, or are they not?” he said.“他们到底是想禁止这家公司，还是不想？”他说。Different Country, Same Tactic不同的国家，同样的手法Most Americans have never heard of Inspur, but the company is among the world’s largest makers of computer servers. It has also dodged one sanction after another.大多数美国人从未听说过浪潮，但这家公司是全球最大的计算机服务器制造商之一，并且一次次避开了制裁。When the U.S. blacklisted Inspur in 2023, it got a new name in the United States. In China, Inspur got a new address.当美国于2023年将浪潮列入黑名单后，它在美国换了个新名字。在中国，浪潮则换了个新地址。The entity list, which the United States uses to block trade to targeted companies, applies to the specific company name and address designated by the government. Just days after its 2023 listing, Inspur registered its main business to a building down the road.美国用来阻断与被制裁公司贸易的实体清单适用于政府指定的具体公司名称和地址。在被列入清单仅数天后，浪潮将其主要业务注册到了不远处的另一栋楼。Four months ago, a Times reporter visited that address, in the eastern Chinese city Jinan. It was a nondescript building with no signage beyond a bank on the ground floor. A security guard confirmed that Inspur had an office there, but said not many people worked in it. He said Inspur was really based at the industrial park down the street.四个月前，一位《纽约时报》记者前往中国东部城市济南的那个地址。那是一栋不起眼的建筑，除了一楼的一家银行外没有任何标识。一名保安确认浪潮在那里有办公室，但说里面工作人员不多。他说浪潮真正的总部在同一条街的工业园区里。That compound was busy. A series of dark gray high-rises stood inside a vast enclosure ringed by a hedge of roses and rows of motorbikes. Inside the gates, a red sign flashed a key slogan from China’s leader, Xi Jinping: “Chinese dream.”那个园区十分繁忙。在一大片由玫瑰树篱和成排摩托车环绕的围墙内，矗立着一些深灰色高楼。大门内，一块红色标牌闪烁着中国领导人习近平的关键口号：“中国梦”。Inspur, which is majority-owned by Shandong Province, began as a state-owned electronics factory. It developed the world’s first pager capable of displaying Chinese characters. More than a decade ago, the Chinese military and state turned to Inspur’s servers to reduce the reliance on foreign companies.由山东省政府控股的浪潮最初是一家国有电子厂。它研发出了世界上第一台能显示汉字的传呼机。十多年前，中国军方和国家开始转向浪潮的服务器，以减少对外国公司的依赖。That made Inspur an American target. In 2020, the Trump administration included it on a list of Chinese military companies. In 2023, the Biden administration said Inspur Group had sought U.S. technology to make military supercomputers and put it on the entity list. That meant U.S. firms could no longer ship to it without a special license.这让浪潮成为美国的目标。2020年，特朗普政府将其列入中国军工企业名单。2023年，拜登政府称浪潮集团寻求利用美国技术制造军用超级计算机，并将其列入实体清单。这意味着美国企业未经特别许可不得再向其发货。A loophole quickly opened. Companies like Intel had been selling to Inspur’s subsidiary, not the parent company, which the order did not cover.一个漏洞很快出现。英特尔等公司一直在向浪潮的子公司（而非母公司）销售产品，而该命令并未覆盖子公司。Two years later, the second Trump administration closed a part of the loophole, adding some of Inspur’s subsidiaries to the blacklist. Aivres was not among them.两年后，第二届特朗普政府堵住了部分漏洞，将浪潮的一些子公司列入黑名单。但Aivres不在其中。The Standout Connection一个引人注目的联系Records show that billions of dollars of advanced servers and other technology have flowed from Aivres and Inspur’s other global subsidiaries to cloud-computing and assembly firms across Southeast Asia.记录显示，价值数十亿美元的先进服务器及其他技术从Aivres和浪潮的其他全球子公司流向了东南亚的云计算和组装公司。One connection stands out. Maginfra was created in China last year, and quickly began doing brisk business with a Malaysian electronics firm that transacts with Inspur’s companies in Hong Kong, mainland China, the United States and Singapore.其中一个联系尤为突出。Maginfra去年在中国成立，并迅速开始与一家马来西亚电子公司开展大量业务，该公司与浪潮在香港、中国大陆、美国和新加坡的公司有交易往来。Maginfra imported more than $700 million of servers from Malaysia into China in a six-month period, including more than 1,500 servers that were priced consistently with high-end A.I. capabilities, ImportGenius data shows. These entries do not include detailed descriptions of the servers or chips inside them, but they do indicate per-unit prices.ImportGenius数据显示，Maginfra在六个月内从马来西亚向中国进口了价值超过7亿美元的服务器，其中包括1500多台价格与高端人工智能算力相符的服务器。这些进口记录没有包含服务器或内部芯片的详细描述，但显示了单价。Maginfra has a scant public profile and no direct link to Inspur on paper. It is also government-owned, and it is down the street from Inspur’s headquarters. Corporate records show that the legal representative of Maginfra’s parent company has held positions at companies affiliated with Inspur subsidiaries or investment partners.Maginfra在公开资料中鲜有记录，在纸面上与浪潮无直接关联。它也是一家国有企业，且与浪潮总部在同一条街。公司记录显示，Maginfra母公司的法定代表人曾在浪潮子公司或投资伙伴关联公司任职。According to Wirescreen, a data platform, many of the patents that Maginfra has registered were filed by inventors who have worked for Inspur. The two firms’ websites also share striking similarities.根据数据平台Wirescreen，Maginfra注册的许多专利的发明人都有在浪潮工作的经历。两家公司的网站也有着惊人的相似之处。When a reporter from The Times visited Maginfra’s listed address in China on Tuesday, it appeared deserted. A few chairs and empty desks sat inside a small locked room with no signs. Workers on the floor said they had not seen anyone use the office, and building receptionists said they had not heard of Maginfra.当《纽约时报》记者周二前往Maginfra在中国的注册地址时，发现那里是闲置状态。一间上锁的小房间里放着几把椅子和空桌子，没有任何标识。该楼层的工作人员表示没见过有人使用该办公室，大楼前台也表示没听说过Maginfra。周二，《纽约时报》记者前往Maginfra的注册地址探访，发现那里处于闲置状态。Public filings analyzed by C4ADS, a Washington research nonprofit, show Chinese universities, some with ties to defense research, seeking and sometimes obtaining servers containing advanced computer chips built by Maginfra and Inspur.华盛顿非营利研究机构C4ADS分析的公开文件显示，中国高校（部分与国防研究有关联）会寻找并有时的确购得了由Maginfra和浪潮制造、搭载先进计算机芯片的服务器。Maginfra also inked a contract in November to sell $165 million of high-performance computing technology to a division of a Chinese state-owned bank, according to a filing on the Hong Kong Stock Exchange.根据香港联交所的一份文件，Maginfra去年11月还签署了一份合同，向一家中国国有银行的一个部门出售价值1.65亿美元的高性能计算技术。“It’s very hard to look at this and not see a state-sponsored Chinese network for bypassing export controls,” said William George, the director of research at ImportGenius, who analyzed the trade records.分析贸易记录的ImportGenius研究总监威廉·乔治表示：“很难不把这看作一个由中国政府支持、用于规避出口管制的网络。”But the Trump administration approved Maginfra this year for a license for Nvidia’s less powerful H200 chips, according to documents viewed by The Times. Reuters previously reported the license.但根据《纽约时报》看到的文件，特朗普政府今年已批准Maginfra获得英伟达性能较低的H200芯片的许可。路透社此前曾报道过该许可。The subsidiary Aivres remains very visible in Silicon Valley. It advertised A.I. servers using AMD’s technology and was listed as an “elite” partner of Nvidia and a sponsor of its annual conference in San Jose, Calif. (AMD declined to comment.)子公司Aivres在硅谷仍然十分活跃。它曾推广其使用AMD技术的人工智能服务器，并被列为英伟达的“精英”合作伙伴，以及英伟达在加利福尼亚州圣何塞年度会议的赞助商。（AMD拒绝置评。）In May, Nvidia announced that Aivres was among the more than two dozen companies in full-scale production of the servers that would supply its next generation of A.I. technology.今年5月，英伟达宣布Aivres是二十余家大规模生产服务器的公司之一，这些服务器将为其下一代人工智能技术提供算力支持。Ana Swanson报道贸易和国际经济新闻，常驻华盛顿。她从事新闻工作已超过十年。孟建国(Paul Mozur)是时报全球科技记者，常驻台北。此前，他自香港、上海和首尔报道亚洲科技与政治的交叉议题。Tripp Mickle报道英伟达、谷歌和苹果等全球最大的科技公司。他也报道整个科技行业的趋势，包括裁员、生成式AI和机器人出租车等。Keith Bradsher是《纽约时报》北京分社社长，此前曾任上海分社社长、香港分社社长、底特律分社社长，以及华盛顿记者。他在新冠疫情期间常驻中国进行报道。翻译：纽约时报中文网点击查看本文英文版。