Bessent Questions Nvidia's Chip Oversight as Megaspeed Listing Lags

Treasury Secretary Scott Bessent questioned Nvidia’s oversight of chip buyers and pointed to Commerce’s role in Megaspeed’s delayed listing as lawmakers requested December testimony and a briefing.

Megaspeed, a Singapore-based company, bought more than $4.8 billion in advanced Nvidia AI chips over the past two years. Megaspeed’s addition to the federal list had been delayed.

Bessent questioned whether Nvidia knew who its customers were, took serious steps to prevent diversion or sold chips to businesses that appeared to be shell companies for resale. He said those responsible within the company should be held accountable. Bessent said he was frustrated by the prospect of diversion because President Donald Trump had made clear that Nvidia chips at the H100 level and above should not go to China.

Bessent said the Department of the Treasury, Department of Defense, Department of State and Office of the U.S. Trade Representative had supported adding Megaspeed to the Entity List for months. The Commerce Department leads the listing process, and Bessent pointed readers to Commerce for questions about its internal procedures. The Entity List is a federal export-control list that restricts access to U.S. technology for designated companies.

Separately, the Commerce Department’s Bureau of Industry and Security (BIS) extended a pause in a rule aimed at restricting Chinese companies from obtaining controlled technology through affiliates. The pause had been due to end Monday, Nov. 9, 2026, and now runs through Jan. 10, 2027.

Lawmakers have requested several December appearances. Senate Banking Committee Chair Tim Scott asked Nvidia CEO Jensen Huang to testify Dec. 3 and Commerce Secretary Howard Lutnick to testify Dec. 10. Three House committees requested a closed-door briefing with Huang for Dec. 1 and invited Nvidia’s general counsel and Commerce Undersecretary Jeff Kessler. The requests name Dec. 1, Dec. 3 and Dec. 10 as the dates for the briefing and testimony.