Cantor Fitzgerald, Led by Lutnick's Sons, Halved Its Nvidia Stake Amid Megaspeed Controversy: CNBC
Cantor’s reported Nvidia holdings fell 49% as U.S. officials pressed for tougher action against Megaspeed, a Singapore company suspected of routing chips to China.
- Nvidia CEO Jensen Huang resigned Thursday, intensifying scrutiny of Commerce Secretary Howard Lutnick after reports alleged he repeatedly resisted export crackdowns despite White House pressure; Lutnick's former firm, Cantor Fitzgerald, maintains significant Nvidia holdings.
- Intelligence warnings alleged Huang had ties to a Chinese spy, prompting the White House to push for export restrictions on Megaspeed; Lutnick reportedly blocked these measures multiple times, including a direct order from President Donald Trump on November 5.
- Cantor reported a nearly 50% decline in Nvidia holdings between September 2025 and March 2026, dropping to 1.78 million shares, while ethics expert Richard Painter noted the appearance raised concerns despite no proof of wrongdoing.
- Treasury Secretary Scott Bessent noted Friday that other agencies favored restricting Megaspeed for months, while a White House official stated the president maintains "complete confidence" in Lutnick, revealing internal disagreement.
- Lawmakers urged the Commerce Department to reconsider Nvidia export licenses following smuggling indictments, and senators pressed for investigations into whether national security recommendations were overruled by the administration.
10 Articles
10 Articles
Howard Lutnick Took Softer Line On Nvidia
New York Times: “Over the past year, Mr. Lutnick has frequently clashed with top officials over how to regulate sales of advanced technology, particularly Nvidia’s chip sales to Asia. That has drawn accusations from others in the administration and in Congress that the Commerce Department has become too cozy with Nvidia and its co-founder, Jensen […]
Howard Lutnick faces questions over Nvidia spy scandal. His sons’ firm has deep ties to the chipmaker
CNBC reports: In late September, Cantor Fitzgerald hosted Nvidia CEO Jensen Huang and other top executives from the chipmaker for investor meetings in New York, according to a Cantor research report reviewed by CNBC. The Wall Street firm liked what it heard. “We continue to view NVDA as the best risk/reward in our coverage,” Cantor analyst C.J. Muse and his colleagues wrote in a research report dated Oct. 3 that maintained a $350 price target an…
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