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U.S. Treasury Secretary Scott Bessent criticized the Commerce Department for not placing Singaporean company “Megaspeed” on a blacklist, despite support from other U.S. departments and agencies for imposing sanctions on it. He noted that the final decision rests with the Commerce Department. The criticism comes amid investigations into the company’s possible involvement in activities that threaten national security and a review of oversight of access to advanced Nvidia chips in China. Jensen Huang has also left his post, and CFO Colette Kress has been appointed acting CEO. As voices in Congress call for tighter semiconductor export controls, Beijing has denied the espionage allegations, calling them a pretext for restricting Chinese companies.
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