AI Image
US Treasury chief blames Commerce Dept for failure in Nvidia scandal
Yahoo • • business
Key Points:
- US Treasury Secretary Scott Bessent criticized the Commerce Department for not blacklisting Megaspeed, a Singapore company involved in a scandal linked to Nvidia CEO Jensen Huang's resignation.
- Bessent stated that multiple government agencies supported adding Megaspeed to the trade blacklist for months, but Commerce, led by Secretary Howard Lutnick, has the final authority and has not acted.
- Megaspeed is suspected of helping Chinese firms bypass US export controls by routing Nvidia chips through Southeast Asia, trading over $4 billion worth in two years.
- Nvidia's former director Alice Huang, identified as an alleged Chinese intelligence asset, had a relationship with Jensen Huang, who resigned following revelations of an extramarital affair; Nvidia and Congress are investigating the matter.
- Bessent emphasized the need to focus on potential Nvidia complicity in export violations rather than Huang's personal life, calling for accountability and highlighting ongoing efforts to prevent technology leakage to China.
