AIFortuneabout 1 hour ago
Treasury Blames Commerce for Nvidia Chip Deal
3 min read
Treasury Secretary Scott Bessent stated that the Treasury Department favored blacklisting Megaspeed for months, but Commerce Secretary Howard Lutnick blocked the move. Lutnick reportedly protected Nvidia from export controls, preventing a $7 billion chip lease to Tencent and shielding 100,000 advanced Nvidia AI chips from restrictions. Megaspeed shipped $7.5 billion in chips to China over two years.
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