Posted on 11/13/2026 7:58:43 AM PST by SeekAndFind
* Lutnick agreed on Thursday to testify voluntarily before the Senate Banking Committee, Lutnick spokesperson Kristen Eichamer told NBC after chair Sen. Tim Scott, R-S.C., sent letters to Lutnick and Huang requesting they appear on Dec. 3 and Dec. 10, respectively.
* Scott’s letter asked Lutnick to testify publicly “regarding recent public reports about Nvidia and the Department of Commerce’s role that raises national security concerns.”
* The request comes amid a multitude of reports that Lutnick resisted new regulations to prevent Nvidia’s chips from being used by Chinese companies and the Chinese government to get an edge over the U.S. in the race to develop artificial intelligence.
* Concerns were heightened in the wake of revelations that Jensen had an affair with Alice Huang, the founder of a Singaporean data company, Megaspeed suspected of funneling chips to China to evade export controls.
* Treasury Secretary Scott Bessent on Friday seemed to confirm reports that he has clashed with Lutnick over his apparent resistance to put Megaspeed on a so-called “entity list” that prevents U.S. companies from doing business with firms on the list without express approval from the U.S. government.
* Bessent told CNBC on Friday that multiple other agencies—treasury, defense, trade and the state department—were in favor of putting Megaspeed on the entity list for months, but Commerce and the Bureau of Industry and Security “has the pen.”
“The obvious question is why did he choose to sell advanced chips?” Sen. John Kennedy, R-La., told Politico, referring to Lutnick, in an interview Wednesday. “Secretary Lutnick needs to answer that in front of God and country. If I were he, I’d call a press conference this afternoon and explain what happened and why he agreed to sell ’em chips, and I would stop doing it.”
(Excerpt) Read more at forbes.com ...
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Wonder if Mr. Lutnick is more clever than the FBI’s forensic accountants. Behind every regulation that benefits someone, there is a bribe.
What a Lutnick!
Lutnick’s former investment company now run by his son, has around 7% of its portfolio in Nvidea shares + options
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