Washington DC [US], November 14 (ANI): US Commerce Secretary Howard Lutnick has agreed to voluntarily testify before the Senate Banking Committee over concerns surrounding export controls on Nvidia’s advanced semiconductor chips and the handling of an investigation into Megaspeed, a Singapore-based company allegedly linked to China, CNN reported.
“Secretary Lutnick has proactively agreed to appear voluntarily before the Banking Committee to address their questions,” Kristen Eichamer, a spokesperson for Lutnick, told CNN.
A source familiar with the matter said that arrangements for the testimony were still being worked out.
Lutnick’s decision came after Republican Senator Tim Scott, chairman of the Senate Banking Committee, requested that he appear before the panel as part of its oversight of national security concerns related to semiconductor exports.
Scott had written to both Lutnick and Nvidia CEO Jensen Huang, requesting their voluntary appearance at a public hearing. The senator asked Lutnick to testify on December 10, 2026, while Huang was requested to appear on December 3, 2026.
In his letter to Lutnick, Scott highlighted the Commerce Department’s responsibility for administering and enforcing export control regulations, stating that the secretary’s testimony would be important for the committee’s oversight.
“Given the Department of Commerce’s central role in issuing and enforcing export control regulations, your testimony before the Committee will be essential to our oversight of these efforts,” Scott wrote.
Scott also raised concerns over national security and the protection of sensitive American technology, saying in a post on X, “Recent reports raise serious concerns about our national security and the protection of sensitive U.S. technology. I am requesting that NVIDIA CEO Jensen Huang and Commerce Secretary Howard Lutnick testify before the Senate Banking Committee. The American people deserve answers.”
The controversy centres on Nvidia’s Singapore-based customer Megaspeed International and allegations that the company may have links to Chinese intelligence. Its executive, Alice Huang, who is alleged to have ties with former Nvidia CEO Jensen Huang, has reportedly come under scrutiny over suspected connections with Chinese intelligence, according to US intelligence officials.
According to CBS News, the Commerce Department’s Bureau of Industry and Security launched an investigation in 2024 into whether Nvidia chips supplied to Megaspeed were being diverted to China in violation of US export restrictions.
The investigation was subsequently transferred to the US Department of Justice, The New York Times reported.
The handling of the investigation has also drawn scrutiny over the Commerce Department’s decision not to place Megaspeed on its Entity List, which identifies foreign companies and individuals considered national security or foreign policy threats. Inclusion on the list restricts their access to American technology and products.
According to CBS News, the department has not added any company to the list since October 2025.
Lutnick has also faced questions over his professional and personal connections with Chinese companies and his relationship with the former Nvidia CEO, with concerns being raised about whether these associations influenced the department’s oversight of advanced AI chip exports.
The issue has reportedly led to tensions within the Trump administration. US Treasury Secretary Scott Bessent confronted Lutnick last week over the Commerce Department’s failure to include Megaspeed on the Entity List, as reported by CNN, citing sources.
Meanwhile, Scott has indicated that the committee could take further action if Huang does not agree to testify voluntarily. In his letter to the Nvidia chief executive, the senator warned that the panel could use compulsory measures.
“Should you fail to appear before the Committee on a voluntary basis, the Committee is prepared to use all tools at our disposal, including subpoenas, to conduct this legitimate and necessary oversight,” Scott wrote.
The Senate Banking Committee’s proposed hearings are expected to examine the handling of semiconductor export controls, the investigation involving Megaspeed and potential national security implications surrounding the overseas movement of sensitive American technology. (ANI)
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