Treasury Secretary Scott Bessent told CNBC there is “a lot of leakage in the system” of US export controls, and that the real question in the Nvidia diversion case is whether the company knew its customers and checked that it was not selling to what he called obviously pass through shell companies. He said that if restricted GPUs were reaching China that way, Nvidia’s internal controls were not robust, criticised general counsel Timothy Teter for pressing Commerce officials over the Singapore detention of Megaspeed’s Alice Wong rather than doing more oversight, and said anyone at the company responsible should be held accountable. Bessent added that he does not favour tighter export rules over enforcing the existing ones, and that he is confident Nvidia’s board will investigate thoroughly.
Bessent asks whether Nvidia knew its shell company customers
Treasury Secretary Scott Bessent used a CNBC interview to shift the Nvidia diversion fight from Jensen Huang personally to the company itself, asking whether Nvidia knew it was selling to pass through shell companies and saying anyone at the company responsible should be held accountable.
Why it matters: A cabinet secretary publicly questioning whether Nvidia knowingly sold restricted AI chips to shell companies raises the stakes for the company beyond the Megaspeed shipments, and it lands a day after Congress summoned Huang and Commerce Secretary Howard Lutnick to testify on chip exports to China.
Data as of CNBC interview with Treasury Secretary Scott Bessent as reported by Tom's Hardware on November 14, 2026, read in full in this pass. Single source: the report carries no comment from Nvidia or the Department of Commerce, and Bessent said it is not known whether Huang knew of any illicit sales. Developing item.
Sources
- U.S. Treasury Secretary questions whether Nvidia knowingly sold AI GPUs to shell companies, says company itself is responsible - Tom's Hardware, reporting a CNBC interview - 2026-11-14