U.S. Treasury Secretary Scott Bessent Calls for Overhaul at Nvidia Following CEO's Exit
· Business · CNBC, Bloomberg
Treasury Secretary Scott Bessent urged Nvidia's board to hire an outside CEO following Jensen Huang's resignation. Bessent questioned whether the chipmaker pursued illicit sales of advanced AI chips to boost revenues and earnings amid growing scrutiny over export controls. Huang resigned after revelations about his relationship with Alice Huang, a former executive at Singapore-based Megaspeed, which U.S. officials suspect of spying and diverting chips to China. Bessent suggested that Nvidia's problems extend beyond the former CEO and that other executives should face investigation. The remarks reflect an ongoing feud between Bessent and Commerce Secretary Howard Lutnick regarding the suspected diversion of chips to China.
Why it matters
The public feud between senior U.S. officials and demands for an overhaul at Nvidia could disrupt global semiconductor supply chains and tighten regulatory enforcement on artificial intelligence chip exports to China.
Read the original report — CNBC
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