Lutnick faces scrutiny over Nvidia chip sales to China

Commerce Secretary Howard Lutnick faces criticism over whether his ties to Chinese companies and friendship with ousted Nvidia CEO Jensen Huang led to lax oversight of billions in AI chip sales, CBS has learned. Lutnick, who held about $1.2 billion in Nvidia stock via Cantor Fitzgerald, developed a warm relationship with Huang, who resigned Thursday amid scandal. The Commerce Department failed to add suspected chip reseller Megaspeed International to its Entity List despite knowing its leader was believed to be a Chinese spy, prompting Treasury Secretary Scott Bessent to confront Lutnick last week. Critics question Lutnick's enforcement record, noting no Entity List additions since October 2025 and his family's net worth doubling to $7.3 billion. Sen. Elizabeth Warren demanded action, while experts cited "red flags" over potential conflicts of interest.