U.S. Treasury Secretary Scott Bessent has criticized delays in imposing export restrictions on Singapore-based Megaspeed International, according to the supplied report. The dispute concerns access to Nvidia’s advanced chips and allegations involving Megaspeed’s leadership.
Bessent said Treasury, State, Defence and the U.S. trade representative had supported adding Megaspeed to an export control list for months. He said the Commerce Department, led by Howard Lutnick, was responsible for the decision. Commerce did not immediately respond to requests for comment.
The report links the dispute to allegations that former Nvidia chief executive Jensen Huang had an affair with Megaspeed CEO Alice Huang, whom U.S. intelligence reportedly suspects of spying for China. China denies the espionage allegations. The supplied text also reports Jensen Huang’s resignation.
Megaspeed reportedly purchased more than $4 billion in Nvidia semiconductors. U.S. authorities are investigating whether the company violated export controls by supplying advanced chips to China. Megaspeed has denied evidence of illicit exports and says it takes compliance seriously and intends to cooperate with U.S. officials.
The investigation began at Commerce’s Bureau of Industry and Security in 2024, before being transferred to the Justice Department, according to the report. A person familiar with the bureau’s work denied that Nvidia had intervened.
Lawmakers from both parties are seeking further scrutiny. Democrats Ron Wyden and Richard Neal asked Lutnick to preserve records concerning Nvidia export decisions. Republican Representative Brian Mast sought testimony from a senior Commerce official and an interview with Nvidia’s general counsel. Republican Senator John Kennedy also called for Lutnick to explain his actions publicly and testify.
The dispute highlights competing considerations in U.S. technology policy: limiting China’s access to advanced artificial intelligence hardware while managing commercial interests and retaliation. The allegations and investigations described in the report do not establish that any individual or company committed wrongdoing.