US Treasury chief blames Commerce Dept for failure in Nvidia scandal

US Treasury Secretary Scott Bessent criticised the Commerce Department for not placing Singapore-based Megaspeed on a US trade blacklist, Dawn reported. Bessent said several other government offices had supported the move for months, but Commerce controls the decision. Megaspeed is suspected of helping route Nvidia chips to China despite US export restrictions.

Bessent also questioned whether Nvidia had properly checked the customer and prevented chips from reaching prohibited buyers. The company reportedly sold more than $4 billion of chips to Megaspeed over two years. Nvidia chief executive Jensen Huang resigned on Thursday, its board has said it will investigate, and US lawmakers have requested a briefing with him on November 18.