Bessent blames Lutnick's Commerce Department for failing to block Megaspeed
Also reported by PBS NewsHour, Newsweek, The Hill, CBS News, Axios, Al Jazeera, France24
Summary
Treasury Secretary Scott Bessent blamed the Commerce Department, led by Howard Lutnick, for delays in adding cloud computing firm Megaspeed to a U.S. export-control list. He also said Nvidia should be held accountable if it failed to prevent advanced chips from reaching China through shell companies.Key Facts
- Bessent said several government agencies had supported adding Megaspeed to the export-control list for months.
- The Commerce Department has authority over adding companies to the list, according to Bessent.
- U.S. agencies investigated Megaspeed over suspicions that it smuggled advanced Nvidia AI chips into China.
- Megaspeed was not on the list of firms barred from doing business with U.S. companies.
- Bessent said President Donald Trump had directed that China should not receive Nvidia chips more advanced than the H100.
- Bessent questioned whether Nvidia properly checked its customers and prevented chip sales through shell companies.
- Megaspeed had been buying advanced chips from Nvidia.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.
