Bessent: Treasury, War, USTR and State wanted Megaspeed blocked, but Commerce did not act
FROM THE WIRE · SEEKINGALPHA.COM
[Herbert Hoover Building Commerce Department 14th Street Washington DC] Treasury Secretary Scott Bessent revealed that his department, along with the Department of War, the U.S. Trade Representative, and the State Department, had pushed for months to place Chinese AI company…
Read at the source ↗MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: neutralThe debate over export controls on advanced chips can affect semiconductor makers exposed to China.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
- 01Treasury Secretary Scott Bessent said several agencies favored adding Megaspeed to the entity list.
- 02According to Bessent, the decision rests with Commerce's Bureau of Industry and Security.
- 03Bessent expressed frustration over the continued leakage of advanced chips to China.
NEWS IMPACT AND MARKET REACTIONChange from the reference price
NVIDIA Corporation162.55 USD-2.45%today -2.19%Neutral Advanced Micro Devices, Inc.552.55 USD-3.06%today -5.60%Neutral Apple Inc.359.58 USD-0.07%today +1.32%Neutral
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets