Scott Bessent says Treasury wanted to blacklist Megaspeed ‘for months,’ blaming Howard Lutnick as Nvidia fallout widens: ‘Commerce has the pen’

Treasury Secretary Scott Bessent said the Treasury Department had sought to blacklist Megaspeed for months and placed responsibility for the delay on Commerce Secretary Howard Lutnick, stating that "Commerce has the pen" on the decision. The headline frames the dispute as an intra-administration disagreement that is now spilling into the Nvidia-related fallout, with Megaspeed's status tied to export and trade restrictions. The primary transmission channel is policy and supply-chain risk: restrictions on a firm linked to Nvidia hardware can affect expected chip sales, customer access, and compliance costs, which is a direct repricing of revenue visibility rather than a broad macro shock. Nvidia (NVDA) is the most directly exposed equity, given its sensitivity to export controls and China-adjacent demand, while the spread of the dispute to Commerce and Treasury leadership adds policy-uncertainty risk across semiconductor names. Traders should watch whether Commerce formally issues or withholds the Entity List action on Megaspeed and any subsequent Nvidia guidance or statements on affected revenue.

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