AI Image
Bessent blames Lutnick's Commerce Department for failing to block Megaspeed
BBC • • general
Key Points:
- US Treasury Secretary Scott Bessent criticized the Commerce Department, led by Howard Lutnick, for inadequate oversight of Nvidia's export of advanced AI chips, amid concerns about chip leakage to China.
- Nvidia CEO Jensen Huang resigned following revelations of an affair with a former Megaspeed executive, who is suspected of being a Chinese spy; Megaspeed has been investigated for allegedly smuggling Nvidia chips into China.
- Congressional committees have summoned both Huang and Lutnick to testify about the export controls and internal processes related to Nvidia's chip sales to Chinese companies, with investigations launched by key lawmakers.
- The Commerce Department faced pressure but delayed adding Megaspeed to the export control list, despite ongoing probes and concerns that Nvidia may have sold chips to shell companies facilitating unauthorized exports.
- A 25% tariff was imposed on Nvidia’s advanced H200 chips imported from Taiwan to the US, as part of national security measures, while lawmakers investigate the adequacy of export restrictions and enforcement.
