{
  "id": 19826878,
  "title": "US Treasury chief blames Commerce Dept for failure in Nvidia scandal",
  "url": "https://urgent.news/2026/11/13/us-treasury-chief-blames-commerce-dept-for-failure-in-nvidia-scandal",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-13T15:17:43.000Z",
  "source": {
    "name": "Dawn Business",
    "slug": "dawn-business",
    "url": "https://www.dawn.com/news/2044316/us-treasury-chief-blames-commerce-dept-for-failure-in-nvidia-scandal"
  },
  "original_language": "en",
  "account": "US Treasury Secretary Scott Bessent blamed the Commerce Department for failing to blacklist Megaspeed, the Singapore company at the center of a scandal that led to Nvidia CEO Jensen Huang's resignation. During an appearance on CNBC, Bessent said that while the Treasury, Defense Department, US Trade Representative's office, and State Department had all backed adding Megaspeed to Washington's trade blacklist \"for months,\" it was Commerce's responsibility to add the entity to the list. Bessent expressed frustration with the Commerce Department's internal processes, stating that President Donald Trump had made it clear that China should not receive any Nvidia chips above H100s. He criticized the situation as \"frustrating\" because it hurt American companies and gave China an advantage in the AI race. Megaspeed is suspected of enabling Chinese firms to bypass US export controls by purchasing Nvidia chips for data centers in Southeast Asia and shipping them to China, with the company reportedly trading over $4 billion worth of Nvidia chips over two years. The allegations of spying were denied by Beijing. Huang admitted to an extramarital affair in a letter to Nvidia employees and resigned on Thursday. Three US Congress committee chairs have requested Huang attend a closed-door briefing on November 18. Bessent noted that media coverage had focused more on Huang's personal life rather than the real issues at hand, such as whether Nvidia knew their client and whether the company took sufficient measures to prevent leakage.",
  "summary": "US Treasury Secretary Scott Bessent on Friday blamed the Commerce Department for failing to blacklist Megaspeed, the Singapore company at the centre of a scandal that prompted Nvidia chief executive Jensen Huang to resign . Speaking on CNBC , Bessent said Treasury, the Defence Department, the US Trade Representative’s office and the State Department had backed adding Megaspeed to Washington’s…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Times of India",
        "title": "US treasury secy flags 'lots of leakage' in US chip exports, slams Nvidia & Lutnick",
        "url": "https://urgent.news/2026/11/13/us-treasury-secy-flags-lots-of-leakage-in-us-chip-exports-slams",
        "published": "2026-11-13T13:27:53.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}