Bessent Faults Commerce Dept. for Not Blacklisting Megaspeed

Treasury Secretary Scott Bessent on Friday blamed the Commerce Department for failing to blacklist Singaporean data center firm Megaspeed, saying other agencies had pushed for the sanction but Commerce "has the pen." He spoke on CNBC, noting Treasury, Defense, State, and the U.S. trade representative had favored adding Megaspeed to the entity list for months. Bessent said the real question is whether Nvidia knew its client and made robust efforts to prevent sales to pass-through shell companies, adding that anyone at the company should be held accountable if they sidestepped the law. His comments come amid administration and Capitol Hill frustration over Megaspeed, led by Alice Huang, whom U.S. intelligence deemed a Chinese government asset. Alice Huang had a relationship with Nvidia CEO Jensen Huang, who resigned Thursday following revelations about that and another affair, causing the company's stock to plummet.