Senate Summons Howard Lutnick and Jensen Huang Over China Chip Sales

The U.S. Senate Banking Committee is seeking testimony from Commerce Secretary Howard Lutnick and former Nvidia CEO Jensen Huang following reports that $4 billion in advanced AI chips were sold to Megaspeed International, a Singapore-based company suspected of routing the technology to China. The investigation centers on whether the Department of Commerce used loopholes to bypass export restrictions and if national security was compromised by a relationship between Huang and Alice Huang, a Megaspeed executive identified as a recruit of a Chinese spy agency.

Jensen Huang resigned as Nvidia CEO on November 12, 2026, with CFO Colette Kress taking over as interim CEO. Despite the resignation, Senator Elizabeth Warren and other bipartisan leaders insist Huang must still provide answers. Secretary Lutnick faces scrutiny over his oversight of these exports and reports that he ignored a classified warning from Secretary of State Marco Rubio regarding the security risks.

Internal government tensions have escalated, with Treasury Secretary Scott Bessent reportedly confronting Lutnick in the White House Situation Room over the failure to place Megaspeed on the Commerce Department's Entity List. Senator John Kennedy described the situation as an "intergalactic freak show," questioning if the chips reached the Communist Party of China. Senator Tim Scott has requested a voluntary appearance for a December 3 hearing, warning that the committee may issue subpoenas if the officials do not comply.