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GeopoliticsMediumUpdated•Originally published 13 November 2026•Updated 13 November 2026•
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Lutnick to Testify Before Senate on Nvidia Chip Exports to China

Key Facts

1Commerce Secretary Howard Lutnick agreed to testify before the Senate Banking Committee on Dec. 10.
2Treasury Secretary Scott Bessent blamed the Commerce Department for delays in blacklisting Megaspeed International.

Commerce Secretary Howard Lutnick agreed to testify before the Senate Banking Committee on December 10, 2026. CBS News reported that Treasury Secretary Scott Bessent blamed the Commerce Department for delays in blacklisting Megaspeed International, a firm suspected of diverting advanced U.S. technology to China.

NVDA closed at $166.19 on November 12, 2026, amid increasing regulatory scrutiny over export controls. On the same date, peer stocks AMD and INTC closed at $585.3 and $61.2 respectively, while TSM finished the session at $405.49.

Latest Updates · 1

  1. Notable·

    Update: Treasury Secretary Scott Bessent stated that the Defense, State, and USTR departments supported blacklisting Megaspeed for months, noting that the Commerce Department holds final authority. Bessent also questioned NVIDIA's 'know your client' protocols and its efforts to prevent advanced chips from leaking to China.

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