Howard Lutnick, the U.S. Commerce secretary, faces scrutiny over his former firm Cantor Fitzgerald’s close dealings with Nvidia. Cantor’s Nvidia stake fell about 49% from 3 million shares in September 2025 to 1.78 million by March 2026, while the firm kept arranging billions in financing for Nvidia’s partners. The pressure grew after a classified memo warned Lutnik of Jensen Huang’s link to a suspected Chinese spy and after President Trump authorized new export restrictions on Nov 5 2026.
Why it matters
If the administration’s export decisions were influenced by personal ties, U.S. chip‑export policy to China could be compromised.
