Trump officials clashed over Megaspeed, firm at center of Nvidia affair

Bessent reportedly confronted Lutnick over chip sales to Megaspeed, as Congress presses Nvidia's CEO.

Per The New York Times, Treasury Secretary Scott Bessent confronted Commerce Secretary Howard Lutnick last week over why the administration hadn't restricted advanced chip sales to Megaspeed. The Times article was reviewed only through its feed summary.

Rep. John Moolenaar (R-Mich.), who chairs the House China select committee, said Congress needs to "get to the bottom" of the relationship. He wants to know whether Huang shared privileged information, was influenced to lobby against chip-sale limits, and whether China got preference on Nvidia's limited chip supply.

Watch: per Tom's Hardware, citing ABC News, House committee heads invited Huang to a closed-door briefing on Nov. 18. Rep. Brian Mast says he will issue a subpoena if Huang doesn't respond by Nov. 11. Nvidia says it is opening an independent investigation.

“What a dereliction of duty. He's supposed to protect America, not China, not his friends,”Sen. Chuck Schumer, Senate minority leader

The facts we checked

According to The New York Times (as summarized in its feed), CNBC and Tom's Hardware (citing ABC News)

1. Treasury Secretary Scott Bessent confronted Commerce Secretary Howard Lutnick last week about why the administration had not put restrictions on advanced chip sales to Megaspeed.Reported · The New York Times (feed summary only; full article not reviewed)
2. Sen. Chuck Schumer, the Senate minority leader, criticized President Trump on the Senate floor Tuesday for defending Nvidia CEO Jensen Huang at the expense of U.S. national security.Alleged · CNBC
3. "What a dereliction of duty. He's supposed to protect America, not China, not his friends," Schumer said.Quote · CNBC
4. Schumer's remarks followed NYT reports that Trump had been briefed about Huang's affair with Megaspeed executive Alice Huang, whom U.S. intelligence concluded was a spy for China, and chose not to act.Reported · CNBC, citing New York Times reports
5. Trump suggested to reporters Monday that he only recently learned of the allegations about Alice Huang, and said he "really" believes Jensen Huang's claim to him that he had no idea she was a spy.Reported · CNBC
6. Schumer called on Republicans to join Democrats in passing the AI Overwatch Act, the Match Act and the Chip Security Act, which he said would cut off China's access to advanced American technology.Reported · CNBC
7. Rep. John Moolenaar (R-Mich.), who chairs the House China select committee, said on CNBC's Squawk Box that Congress needs to "get to the bottom" of Huang's relationship with Alice Huang.Quote · CNBC
8. Moolenaar said he wants to know whether Huang shared privileged information with a Chinese spy, whether Huang was influenced to lobby against preventing chip sales to China, and whether China was given preference in buying Nvidia's limited supply of advanced chips.Reported · CNBC
9. "If it becomes less of an investigation, more of damage control, that's not going to work because people have to have confidence," Moolenaar said.Quote · CNBC
10. House committee heads invited Huang to a joint, closed-door briefing on November 18 with the chairs of the House committees on China, Foreign Affairs and Intelligence, focused on Nvidia's security protocols against foreign adversary espionage.Reported · Tom's Hardware, citing ABC News
11. Rep. Brian Mast (R-Fla.), chair of House Foreign Affairs, has said he will issue a subpoena if Huang does not respond to the request by Wednesday, November 11.Reported · Tom's Hardware, citing ABC News
12. Mast told reporters Tuesday: "I can't say that I've heard an answer back yet."Quote · CNBC
13. Nvidia announced it was opening an independent investigation into Huang's conduct.Reported · CNBC
14. CNBC said it had requested comment from the White House on Schumer's remarks.Fact · CNBC

Sources

• The New York TimesTrump Officials Clashed Over Megaspeed, Firm at Heart of Nvidia Affair
• CNBCSchumer accuses Trump of defending Nvidia CEO Jensen Huang at cost of national security
• Tom's HardwareCongress could issue subpoena to Nvidia CEO Jensen Huang if he doesn’t respond by today to request for a ‘joint, closed-door briefing’