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● RegulationNov 13, 2026 · 21:068 sources

Bessent Blames Lutnick's Commerce Dept for Failing to Blacklist Nvidia Customer Megaspeed

From marketbrief.now

AI;DR

Treasury Secretary Scott Bessent blamed Commerce Secretary Howard Lutnick's department for failing to blacklist Nvidia customer Megaspeed. The Justice and Commerce departments opened an investigation in 2024 into Megaspeed. Bessent reiterated that China should not receive any chips above the H100.

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Sources

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  1. SUPPORT@thestalwart“Bessent tells CNBC a wide swath of the Trump administration — including the Treasury, State, the Pentagon & USTR — favored placing Megaspeed on an export blacklist.”x.com
  2. SUPPORT@niubi“questioning Nvidia’s compliance, said general counsel teter “probably should have done more oversight””x.com
  3. SUPPORT@schwartzbwsj“President Trump’s Commerce Secretary Howard Lutnick is under scrutiny from Trump officials because of his efforts to stall restrictions on chip exports, his longstanding relationship with the outgoing Nvidia chief executive Jensen Huang”x.com
  4. SUPPORT@lrozen“Adding a company to the federal blacklist is an interagency decision, not the Commerce secretary’s personal prerogative.”x.com
  5. SUPPORT@zcohencnn“The Department of Justice and the Commerce Department began an investigation into the firm in 2024 — part of a broader probe into an ecosystem of foreign shell companies suspected of diverting restricted Nvidia chips to China”x.com
  6. SUPPORT@shelbytalcott“President Trump maintains complete confidence in the secretary and his ability to carry out the position as the most transformative Commerce Secretary in modern history.”x.com
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