Bessent says Treasury favored limits on Megaspeed
NVDA•NVDA•NVDA•NVDA•Treasury Secretary Scott Bessent said his department had favored placing Singapore-based cloud computing firm Megaspeed on the U.S. entity list for months, but said the Commerce Department would decide whether to act. He also questioned whether Nvidia adequately vetted a partner amid concerns about chip export controls.
Bessent said Treasury had favored placing Megaspeed on the U.S. entity list for months, but that export restrictions were a decision for the Commerce Department’s Bureau of Industry and Security. He said the Federal Trade Commission could possibly take other action and that the administration was working to close gaps in the chip export system.
Bessent questioned whether Nvidia knew its client and had taken robust steps to prevent chip exports from reaching pass-through shell companies. He said people at the company should be held accountable if warranted, and added that existing authorities needed to be implemented.
