Senator Banks demands Lutnick testify on Nvidia chip export loophole

Sen. Jim Banks (R-Ind.) called on Commerce Secretary Howard Lutnick to testify before the Senate Banking Committee regarding his alleged use of a "loophole" to permit advanced AI chip sales to China, linked to former Nvidia CEO Jensen Huang's relationship with an alleged Chinese spy. Banks made the request Thursday on Fox News, citing the GAIN AI Act he co-sponsored with Sen. Elizabeth Warren, which Nvidia opposed in 2025. He said the actions contradict President Trump's directive against such exports and that bipartisan senators have concerns about the Commerce Department's handling of export controls. The call follows a classified memo from Secretary of State Marco Rubio warning about Huang's ties to Megaspeed executive Alice Huang. Three senior House Democrats also demanded answers from Lutnick and asked him to halt advanced AI chip exports. The Commerce Department did not respond to requests for comment.