Treasury Secretary Scott Bessent points finger at Howard Lutnick, Commerce Department over Nvidia chip scandal

The story now adds that a Commerce Department official said concerns about Megaspeed had circulated within the agency as early as summer 2025, while Nvidia chief Jensen Huang was lobbying for wider sales of the company’s chips, including to China. The investigation into whether Megaspeed sent chips to China was later moved from Commerce to the Justice Department after Nvidia’s general counsel sought an update.

Treasury Secretary Scott Bessent says four departments supported placing the Singapore-based Nvidia customer on a national security watchlist, but Commerce controlled the decision. He has questioned whether Nvidia properly vetted Megaspeed and called for accountability; the White House says President Trump retains confidence in Commerce Secretary Howard Lutnick. The story also links the scrutiny to reports about Megaspeed executive Alice Huang’s affair with Jensen Huang, who stepped down from Nvidia on Thursday.