House Speaker Mike Johnson (R-La.) says bipartisan support is growing for tighter restrictions on China’s access to advanced AI chips, as controversy over former Nvidia Corp. (NASDAQ:NVDA) CEO Jensen Huang intensifies scrutiny of Washington’s export-control policies.
Johnson Backs Tougher China Chip Restrictions
On Thursday, Johnson told reporters that limiting China’s access to advanced semiconductors had become a major issue in Congress, Reuters reported.
“The export controls on chips to China has been a big issue around here,” he said, adding, “I think there’s a developing consensus in Congress that is an important position to take.”
Lawmakers from both parties are pushing for tougher restrictions following reports linking Huang to Alice Huang, a Chinese businesswoman whom U.S. authorities suspect of spying for Beijing.
She was an executive at Megaspeed, an Nvidia partner suspected of helping China obtain advanced chips restricted under U.S. export controls. Beijing has denied the spying allegations.
Four Bills Could Tighten Nvidia Chip Access
Republicans are looking to attach additional restrictions to the annual defense authorization bill, while lawmakers are pushing at least four proposals.
The AI Overwatch Act would expand congressional oversight of chip exports, while the Chip Security Act would require tracking advanced processors to prevent smuggling.
The MATCH Act seeks to pressure U.S. allies to restrict sales and maintenance of chipmaking equipment to China.
Meanwhile, the Remote Access Security Act would give the Commerce Department greater authority to restrict Chinese companies from renting overseas data centers equipped with Nvidia chips.
Chinese AI companies are reportedly scrambling to secure overseas computing capacity amid fears that Washington could close this remote-access route.
Lutnick Faces Growing Washington Scrutiny
The controversy has also put Commerce Secretary Howard Lutnick under pressure over the administration’s oversight of Nvidia’s China business.
Treasury Secretary Scott Bessent reportedly questioned Lutnick during a White House meeting about why Megaspeed had not been added to the Commerce Department’s Entity List, which restricts trade with designated organizations.
Senior White House officials are reportedly discussing Lutnick’s future, while Huang is expected to testify before Congress before Thanksgiving, the report added.
House Foreign Affairs Committee Chairman Brian Mast said congressional staff had spoken with Nvidia about arranging his testimony.
Price Action: Nvidia shares declined 4.34% to close Thursday’s session at $166.19 and added 0.99% in after-hours trading, according to Benzinga Pro.
Benzinga Edge Stock Rankings rank Nvidia in the 12th percentile for Momentum and the 98th percentile for Growth.
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