US Commerce Secretary Lutnick faces pressure over ignored warnings in Nvidia chip export scandal

US Commerce Secretary Howard Lutnick faces mounting pressure after Treasury Secretary Scott Bessent accused his department of ignoring warnings to blacklist Megaspeed, a firm linked to the Nvidia scandal involving alleged illegal chip exports to China. Bessent told CNBC that other government agencies had requested Megaspeed's blacklisting for months, but the Commerce Department, which oversees the list, failed to act. Megaspeed, founded by alleged Chinese spy Alice Huang, reportedly shipped high-performance Nvidia chips to China despite export bans. The scandal has triggered bipartisan calls for stricter AI chip export controls, with China warning against new restrictions. Lutnick and former Nvidia CEO Jensen Huang may testify before the Senate Banking Committee, while reports suggest White House officials are considering Lutnick's resignation.