Scott Bessent Backs Export Curbs on Nvidia Customer Megaspeed Moz Farooque ACCA Fri, November 13, 2026 at 12:20 PM EST 2 min read NVDA -3.04% Trade NVIDIA on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
Treasury Secretary Scott Bessent said Friday that his department had backed U.S. export restrictions on Singapore cloud provider Megaspeed for months, putting fresh pressure on Nvidia (NASDAQ:NVDA) to explain how it vets overseas customers. The decision rests with the Commerce Department, Bessent told CNBC. For Nvidia shareholders, the question is whether any action stays focused on Megaspeed or affects sales through other distributors.
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Treasury favored adding Megaspeed to the Commerce Department's Entity List, Reuters reported. A listing would generally require suppliers to obtain a federal license for covered shipments to the company. Bessent's comments disclosed Treasury's position, and any licensing changes would depend on a formal Commerce decision.
Megaspeed has faced scrutiny over allegations that it helped Chinese customers obtain advanced Nvidia chips subject to U.S. export controls. The company has denied illegally diverting chips to China and says it cooperated with U.S. inspections. It also hired a U.S. law firm to inventory its graphics processors and review its compliance practices.
The dispute lands as Nvidia changes leadership. Co-founder Jensen Huang resigned Thursday, and the board appointed Chief Financial Officer Colette Kress as interim CEO while it searches for a permanent successor.
Nvidia's Nov. 17 earnings call is the next chance to hear whether customer reviews or export licensing are affecting shipments or revenue guidance. Data center sales and gross margins will help show whether demand elsewhere can absorb any disruption.
A Commerce decision limited to Megaspeed would put the immediate focus on sales tied to that customer. Broader restrictions or tougher checks on end customers could delay more shipments and make quarterly revenue less predictable. The scope of any formal rule will matter more for Nvidia's outlook than Treasury's endorsement alone.
