Lutnick to testify on AI chip export controls as pressure mounts

Howard Lutnick is heading to Capitol Hill. The Commerce Secretary has agreed to testify before the Senate Banking Committee, according to Crypto Briefing, after pressure from congressional Republicans and some senior members of the Trump administration.

The heat traces back to investigations into how the Commerce Department enforced advanced-chip export controls, with Nvidia and Megaspeed International among the companies in the spotlight. Lawmakers want a straight answer on whether Commerce improperly let advanced AI chips flow to China-linked entities.

By volunteering to appear, Lutnick signals he wants to get ahead of concerns about potential loopholes in the restrictions and about actions that came late. The decision plants the issue squarely inside formal congressional oversight, where senators will press for clarity on the department's enforcement record.

Lutnick's testimony is now the next checkpoint, with attention on whatever new details emerge about Commerce's handling of the controls and on any moves out of the White House.