I’m not sure why you felt it was germane to highlight the font size difference between the headline and body of the article. It is following their usual formatting style. You also chose to cherry-pick a tiny section. Here’s the next paragraph:

> But the overlapping relationships are the latest indication of the potential conflicts that exist given Mr. Lutnick’s role in shaping rules around U.S. technology exports. And they demonstrate how the U.S. ban on selling chips directly to China has led to an explosion of data centers in Southeast Asia aimed at Chinese customers. It is now up to Mr. Lutnick to decide whether to tighten the rules in ways that would cut off this avenue.

The article concludes with:

> Still, Cantor Fitzgerald continued to help arrange billions of dollars of financing for industries ranging from data centers to cryptocurrency that depend on a steady supply of computing from Nvidia.

> That includes Bitdeer, which is building out the Malaysian data center it expects to generate $1.7 billion in revenue over five years, according to a company statement.

> That data center will likely serve Tencent, a Chinese internet giant that would be able to gain access to Nvidia’s most advanced A.I. servers, according to a person with knowledge of the arrangement. Bitdeer is part of Nvidia’s partner network, a program for companies that work closely with the chipmaker.

> Bitdeer hosts a Chinese language website that lets customers rent A.I. chips and gain access to Chinese open source A.I. models through data centers in Malaysia, Canada and elsewhere. The Johor facility is one of five data centers the company plans to open in Malaysia in the coming years, according to filings with the Securities and Exchange Commission.

> Cantor holds a stake in Bitdeer through its investment in Tether, the crypto company. It is far from the only American financial heavyweight investing in overseas data centers. Bain Capital, Citadel and Blackstone have all poured money into A.I. computing clusters across the region.

> Cantor also previously provided financial services to Gorilla Technology, which is building data centers in Thailand and Indonesia, and has a contract to provide A.I. computing to Freyr AI, a Singaporean data center firm that corporate filings and job ads indicate has ties to China.

> Cantor has worked with other Nvidia partners globally, including IREN, an Australian cloud computing company, and Lancium, a Texas data center developer.

> A Commerce Department spokeswoman said that Mr. Lutnick makes policy decisions based on the best interests of the United States. He does not discuss department matters with his sons, nor do they discuss Cantor Fitzgerald business with him, she added.

> Cantor Fitzgerald declined to comment. Bitdeer did not reply to a request for comment.

> Mr. Lutnick, as of October 2025, transferred his remaining ownership stake in Cantor to his family. Before that, he had been given what the White House had called a “limited waiver” that allowed him to participate in certain decisions that could have “a direct and predictable effect on Cantor Fitzgerald,” exempting him from a federal criminal law that would otherwise have required him to entirely recuse himself from these discussions.

> Even after Mr. Lutnick finished transferring his ownership stake to his sons late last year, he still had to abide by an ethics rule prohibiting federal employees from using their public office for their private gain or the gain of friends and relatives.

> The Times reported last year that Mr. Lutnick was promoting data center projects that worked with his family firms. Senator Elizabeth Warren, Democrat of Massachusetts, and two dozen other Democratic lawmakers called for an investigation.

It is apparent there is a conflict of interest but the NYT was unable to find an explicit causal connection. The headline is objectively correct and in most administrations of the past, overlapping interests like this would constitute a scandal and would call for further investigation.