Investor Scott Bessent Faults Commerce Department for Slow Megaspeed Blacklisting

Well‑known hedge‑fund manager Scott Bessent has openly charged the U.S. Commerce Department with not adding Chinese tech company Megaspeed to the entity list, even though he says several government agencies had backed the move for months.

Megaspeed, which provides cutting‑edge semiconductor equipment, has attracted attention over alleged connections to China’s military‑industrial complex. The entity list, overseen by the Commerce Department, serves as a principal export‑control tool that prohibits U.S. firms from supplying goods or technology to foreign parties judged to pose a security threat.

In a recent CNBC interview, Bessent asserted that “several government agencies were in favour of putting Megaspeed on the entity list for months,” yet the department, led by its current head, failed to act to block the firm. He attributed the inaction to bureaucratic caution or internal disputes that have let the company keep receiving U.S. components.

Bessent warned that the postponement may have wider national‑security repercussions. Should Megaspeed continue to obtain U.S. semiconductor tools, it could speed up the creation of capabilities that might be diverted to military use, a worry repeatedly voiced by legislators and security experts.

Recognized for his forthright stance on corporate governance and geopolitical risk, Bessent has previously cautioned investors about exposure to companies tied to foreign defense initiatives. His latest comments increase pressure on the Commerce Department to revisit its position and possibly hasten the listing.

Members of the House and Senate Armed Services committees have indicated they may convene hearings on the issue, while industry associations are watching developments closely. Officially adding Megaspeed to the entity list would likely set off a wave of compliance measures throughout U.S. supply chains, whereas ongoing delay could draw further criticism of the department’s export‑control enforcement.