Treasury Secretary Scott Bessent expressed frustration over any leak of advanced chips following a reported confrontation with Commerce Secretary Howard Lutnick at the White House on November 6, 2026. The meeting reportedly concerned Megaspeed, a Singapore-based company accused of diverting Nvidia artificial intelligence chips to China in violation of U.S. export controls. The Commerce Department denies that the confrontation occurred. Founded in 2015 as 7Road International, Megaspeed reportedly purchased more than $4 billion worth of Nvidia chips, with some estimates exceeding $4.8 billion, while officials and a classified memo had raised concerns since fall 2025.
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