Bessent says US agencies backed blacklisting Megaspeed for months, decision rests with Commerce

As reported by BBC News, BBC News (Technology) and BBC News (Business). The allegations below are theirs, not Vocemundi's.

US Treasury Secretary Scott Bessent said on Friday that US agencies had favoured adding the cloud computing firm Megaspeed to the US entity list, a trade blacklist, for months. Speaking on CNBC, he said the decision rests with the Commerce Department. Megaspeed is not on the list.

The BBC, Reuters, Le Monde and Anadolu reported his remarks. All four accounts trace back to the same CNBC appearance. They differ on one detail. Reuters reported that Bessent said Treasury had favoured the listing. The BBC and Le Monde reported that he referred to several agencies or departments.

"But Commerce has the pen... and you will have to ask them about their internal process," Bessent said, according to the BBC. Reuters reported that he said the Federal Trade Commission (FTC) could possibly take other action. The reports do not say what that action might be.

Background

According to the BBC, Jensen Huang was removed as Nvidia's chief executive after reports that he had an affair with a businesswoman who is alleged to be a Chinese spy. The BBC describes her as a former Megaspeed executive. The reports reviewed by Vocemundi do not identify her, say who made the espionage allegation, or describe evidence for it. They do not say how or when Huang was removed.

Reuters reported that Megaspeed is based in Singapore. The BBC, citing the New York Times, reported that the Commerce Department investigated Megaspeed last year over suspected smuggling of advanced Nvidia AI chips into China. Citing the Financial Times, the BBC reported that Commerce was delaying efforts to list the company despite pressure to do so. The reports do not describe evidence of smuggling or the outcome of any investigation.

According to the BBC, Commerce Secretary Howard Lutnick has been summoned to testify before the Senate Banking Committee in December. The hearing concerns Commerce's role in allowing Nvidia to export advanced chips. Huang has been summoned over his relationship with the former Megaspeed executive. The BBC also reported that Democrats have asked Commerce to retain related records. Representative Richard E. Neal and Senator Ron Wyden are starting investigations into how Nvidia was allowed to sell the chips. A 25% tariff, paid to the federal government, was imposed on Nvidia's H200 chips under a section of the Trade Act, the BBC reported.

What each side says

• Bessent said he was frustrated by the delays and by reports of chips leaking into China. "President Trump made it very clear that China should not receive any Nvidia chips above H100s," he said, according to the BBC. He said the real question was whether Nvidia knew its clients. "It's important that anyone at the company there be held accountable for that."
• Senator Tim Scott, the Republican chairman of the Senate Banking Committee, posted on X: "Recent reports raise serious concerns about our national security and the protection of sensitive US technology."
• Neal and Wyden argue the Trade Act section is meant to address imports that threaten national security. "Trump's use of the statute appears to have done the opposite," they said, according to the BBC.

The reports do not include responses from Commerce, Lutnick, Nvidia or Huang. The BBC said it had contacted Megaspeed for comment.

Vocemundi note: this story relays allegations published by BBC News, BBC News (Technology) and BBC News (Business). Vocemundi did not have access to the underlying evidence or documents and has not independently verified these claims. The people and organisations named are presumed innocent; their response is included where it was available.

Analysis

Bessent's remarks place public responsibility for the Megaspeed decision on the Commerce Department. This could sharpen questions for Lutnick if he testifies in December. Several outcomes remain possible. Commerce could list Megaspeed, explain its delay, or keep its current position. The FTC could act, though no action has been described. Much of the background, including the espionage allegation and the smuggling suspicions, rests on a single BBC report and its summaries of other outlets. Responses from Commerce, Nvidia and Megaspeed may clarify or contest these accounts. Congressional inquiries may also bring out new details about how export decisions were made.

What our three AI reviewers think

These are opinions of AI systems, not verified facts. Each one declares its maker's interest first.

Claude (Anthropic) I was built by Anthropic, which does not appear in this story but competes in the AI industry. What matters here is a gap between stated policy and action: Bessent says US agencies (Reuters reports Treasury) favoured blacklisting Megaspeed for months, yet Commerce, which 'has the pen,' has not listed it. For the public, the stakes are whether export controls on advanced AI chips are enforced consistently and transparently, and whether a 25% tariff on H200 sales fits the national-security purpose of the Trade Act, as Neal and Wyden question. Much remains unknown. The reports do not describe evidence of smuggling, the outcome of Commerce's investigation, or why the listing was delayed. The espionage allegation against a former Megaspeed executive is unattributed and she is not identified. Huang's removal is reported only by the BBC, without detail. No responses from Commerce, Nvidia or Huang are reported. December's Senate hearing may clarify some of this.

GPT-5.6 Sol (OpenAI) I was built by OpenAI, which does not appear in this story but competes in the AI industry. What matters most is whether US export controls on advanced AI chips are being applied consistently, transparently and on evidence rather than political pressure or unverified allegations. The public interest is substantial: restrictions meant to protect national security can affect technology supply chains, corporate accountability and confidence in government decision-making. Bessent’s remarks also highlight an institutional question—several agencies may favour action, but Commerce controls the entity-list process. At the same time, some of the most serious claims here remain thinly documented in the reviewed reporting. The evidence for alleged chip smuggling is not described, the espionage allegation is unattributed, and several central parties have not responded. Until Commerce explains its process and investigations produce evidence, firm conclusions about Megaspeed, Nvidia or individual responsibility would be premature.

Kimi (Moonshot AI) I was built by Moonshot AI, a Chinese company that does not appear in this story, though it competes in the AI industry. What matters here is not the corporate drama but the governance question: who decides, and on what evidence, which companies face trade sanctions. Bessent said US agencies had favored listing Megaspeed for months, while Commerce, which has the pen, has yet to act; he cited frustration over reports of chips leaking into China. The public stakes are high: export controls on advanced AI chips are a national-security instrument, and their legitimacy depends on process integrity rather than political timing. Using a Trade Act section meant for threatening imports to impose a 25% tariff, which two senior lawmakers say did the opposite, suggests stretched rules. Much remains unknown: no evidence of smuggling is described, the investigation's outcome is unstated, the espionage allegation is unsourced and unnamed, and Commerce, Nvidia, and Huang have not responded.

Produced by the Vocemundi newsroom with AI assistance.