Bessent says Commerce has not blacklisted cloud provider Megaspeed

US Treasury Secretary Scott Bessent said on November 13 that Treasury had supported putting Singapore-based cloud computing company Megaspeed on the US Entity List for months, but Commerce, the department responsible for acting, had not done so. The Entity List is an export-control tool that generally requires suppliers to obtain licenses to provide listed companies with controlled goods or technology.^[1][2]

Bessent also said the Federal Trade Commission could possibly take other action, and that Nvidia employees should be held accountable if they had sidestepped the law. Those statements establish neither a new restriction nor a finding that employees broke the law.^[1][3]

The commercial impact first depends on whether Commerce acts. If Megaspeed is added to the Entity List, suppliers of controlled technology could need licenses, delaying or preventing deliveries. That could make equipment harder for Megaspeed to obtain and constrain its ability to add computing capacity for customers to rent; suppliers would face greater uncertainty over fulfilling orders.^[1][2]

Bessent's comments about Nvidia employees add a compliance risk: if violations are established, potential accountability could encourage closer checks on customers and transactions, increasing costs and slowing deals. The supplied reports do not quantify any effect on sales, costs or cloud capacity.^[3]

Impact