File photo: Scott Bessent, May 28, 2026. Abe McNatt / White House / Public Domain (cropped).
NEW YORK – Treasury Secretary Scott Bessent said Friday that several U.S. agencies had supported putting Megaspeed, a cloud-computing provider with a Singapore office, on a trade-restriction list for months, while pointing to the Commerce Department’s role in handling the decision.
In an interview Friday, Bessent said the Treasury Department, the Office of the U.S. Trade Representative and the State Department were among those that favored adding the company to the Entity List. He directed questions about the internal process to Commerce and its Bureau of Industry and Security.
Megaspeed describes itself as a provider of AI and GPU computing services on its company website, which lists a Singapore address. In a statement dated November 12, the company said it had cooperated with BIS inspections and retained a U.S. law firm to conduct a GPU census and independently verify its export-control compliance practices.
The remarks put Bessent’s account of the interagency discussions on the public record. They did not announce that Megaspeed had been added to the list or that new restrictions had taken effect.
The Entity List imposes license requirements on covered exports, reexports and transfers to listed companies and other entities. The requirements can limit access to U.S.-controlled technology, making the listing process important to companies buying or supplying advanced chips.
JBizNews Desk | New York
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