Treasury Secretary Scott Bessent has publicly criticized the Commerce Department for its inaction regarding Megaspeed, a Singapore-based company suspected of diverting Nvidia chips to China. Bessent expressed frustration over the situation, particularly in light of President Trump's directive against advanced chip exports to China. The controversy involves former Nvidia CEO Jensen Huang and his ties to Megaspeed executive Alice Huang. Lutnick is set to testify before the Senate Banking Committee about the issue.
Key facts
- Scott Bessent criticized the Commerce Department for not blacklisting Megaspeed.
- Megaspeed is under investigation for allegedly diverting Nvidia chips to China.
- Bessent expressed frustration over Nvidia chips reaching China.
- Alice Huang of Megaspeed has ties to former Nvidia CEO Jensen Huang.
- Lutnick has agreed to testify before the Senate Banking Committee.
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