Commerce Secretary Howard Lutnick is scheduled to answer Senate questions over how his department oversaw AI chip export rules, with the matter tied to a dispute involving Nvidia and a Chinese firm called Megaspeed, the New York Post reported at 10:47 AM ET on Friday.
What happened
The New York Post reported that Lutnick, described as politically embattled, will testify before the Senate regarding his agency's enforcement of export controls on advanced AI chips. The outlet said Treasury Secretary Scott Bessent and others have placed blame on Lutnick for what the report called a failure to rein in Megaspeed, the Chinese company at the center of what the Post termed an Nvidia "spy" scandal. No comment from Nvidia, Lutnick or Bessent was included in the report.</overview> <parameter name="stock">Nvidia (NVDA) shares were at $159.95, down 3.75% from the prior close since the report.
How the stock has moved
| Measure | Value |
|---|---|
| Price | $159.95 |
| Change from the prior close | -3.75% |
| Market value | $3.85 trillion |
Source: Stock quote; the close before the first report from our saved closes · as of November 13, 2026 at 11:38 AM ET · Shows what the stock did after the news was first reported, not why.
Its suppliers and customers
Among Nvidia's suppliers on file, Coherent, Synopsys, Qnity Electronics, ON Semiconductor, Corning and Micron Technology were all lower today. Of its customers, Supermicro was down while HP Inc. was up.
| Company | Role | Stock | Today |
|---|---|---|---|
| Coherent, Inc. | Supplier | COHR | -9.16% |
| Supermicro | Customer | SMCI | -3.40% |
| HP Inc. | Customer | HPQ | +0.95% |
| Synopsys | Supplier | SNPS | -2.56% |
| Qnity Electronics, Inc. | Supplier | Q | -4.24% |
| ON Semiconductor | Supplier | ON | -5.11% |
| Corning Inc. | Supplier | GLW | -6.51% |
| Micron Technology | Supplier | MU | -5.04% |
Source: Relationships named in company filings (Earnings call transcript; SEC 10-K annual report); stock quotes · as of November 13, 2026 at 11:38 AM ET · A supplier or customer moving the same day is not evidence that one move caused the other.