From CNBC · Natalie Feary · · 1m 20s
Lutnick to testify on Nvidia chip sales to China
Commerce Secretary agrees to appear before Senate Banking Committee as lawmakers probe whether Nvidia supplied advanced AI chips to Chinese companies.
In brief
Commerce Secretary agrees to appear before Senate Banking Committee as lawmakers probe whether Nvidia supplied advanced AI chips to Chinese companies. Commerce Secretary Howard Lutnick agreed to testify before the Senate Banking Committee on December tenth about the Commerce Department's oversight of Nvidia chip…
Lutnick summoned to testify
Commerce Secretary Howard Lutnick has agreed to appear voluntarily before the Senate Banking Committee on December tenth, according to NBC News.
Huang also asked to testify
Senate Banking Chair Tim Scott also asked former Nvidia CEO Jensen Huang to appear on December third. Both received letters Thursday evening requesting testimony.
The scandal behind the summons
Huang acknowledged an affair with an executive at Megaspeed, a Singapore-based company that bought over four point eight billion dollars of advanced Nvidia AI chips over two years.
Lawmakers question oversight
Lawmakers are scrutinizing whether the Commerce Department properly oversaw Nvidia's exports and enforced export controls on advanced AI chips to China.
Banks accuses Lutnick of loopholes
Senator Jim Banks said on Fox News Thursday that Lutnick appears to have used loopholes to allow some of these chip sales to occur.
“appears to have used loopholes to allow some of these chip sales to occur”
Warren demands action on controls
Senator Elizabeth Warren said Lutnick and Under Secretary Jeffrey Kessler must explain why they have not closed export control loopholes.
“must explain why they have not closed export control loopholes”
The main idea
Commerce Secretary Howard Lutnick agreed to testify before the Senate Banking Committee on December tenth about the Commerce Department's oversight of Nvidia chip exports to China.
