Bessent says four US agencies backed blacklisting Megaspeed

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Published Friday, November 13, 2026 · 12:06 PM EST

Treasury Secretary Scott Bessent said Friday that Treasury, the Pentagon, the State Department and the US Trade Representative had supported putting Nvidia customer Megaspeed on the Commerce Department's trade blacklist for months. Speaking on CNBC, he said Commerce controls the listing process; Megaspeed remains off the list. Bessent also questioned whether Nvidia adequately checked customers to prevent advanced chips from reaching China. Megaspeed denies allegations that it diverted chips there. Nvidia says it banned sales and shipments to Megaspeed in June 2025. The Senate Banking Committee has asked Jensen Huang and Commerce Secretary Howard Lutnick to testify in December.

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