Bessent says four agencies wanted Nvidia (NVDA) customer Megaspeed blacklisted for months, but Commerce is in charge

Key points Scott Bessent said Treasury, Defense, State, and USTR backed blacklisting Megaspeed for months Bessent said Howard Lutnick's Commerce Department is in charge of the entity list Lutnick has agreed to testify before the Senate Banking Committee, his spokesperson said Treasury Secretary Scott Bessent said on Nov. 13 that the Treasury, Defense, and State departments and the Office of the US Trade Representative all "were in favor of putting Megaspeed on the entity list for months." The Commerce Department is in charge of that list, Bessent told CNBC, "and you will have to ask them about their internal processes." Megaspeed is the Singapore-based Nvidia (NVDA) customer at the center of the scandal that led Jensen Huang to resign as Nvidia's CEO on Nov. 12. Megaspeed has bought more than $4.8 billion of advanced Nvidia AI chips over the past two years.

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