HMM: I’m sure it’s a coincidence that Howard Lutnick’s sons have $362 million in Nvidia.

In May, Secretary of State Marco Rubio sent President Donald Trump and top Cabinet members a classified memorandum detailing the relationship between the Huangs and the intelligence indicating that Alice Huang was a Chinese spy. The White House directed the Commerce Department to put Alice Huang’s Megaspeed on the entity list of companies that pose national security concerns. Lutnick refused this request in May; he refused a second attempted crackdown order from Trump in August; and on Nov. 5, Lutnick reportedly stonewalled Trump again. And evidently, this wasn’t because Lutnick knew too little. Rather, the Commerce Department spent months last year conducting an investigation into Megaspeed and specifically whether it was illicitly smuggling Nvidia chips into China, only for Lutnick’s direct underling, Jeff Kessler, to invite Nvidia to reach out to Commerce about the case, bringing the department’s inquiry to an effective end.

I am sure it is just a coincidence that Cantor Fitzgerald, the financial services firm that Lutnick led for 35 years before passing it off to his 20-something-year-old sons Brandon and Kyle, has a $362.3 million stake in Nvidia, which makes up 7% of Cantor’s entire portfolio.

Full details at the link, but here’s the important part that came out earlier this week: Lutnick stalled Trump’s Nvidia–China chip curbs after Oval talks.