US Treasury chief wants answers soon from Nvidia
Bessent said Nvidia should pick an outside CEO and answer export-control questions within 10 days as the company faces scrutiny over chip sales to China.
- On Sunday, Treasury Secretary Scott Bessent called for a "dramatic shakeup" at Nvidia and said the board should seek a new CEO from outside the company following Jensen Huang's resignation.
- Huang resigned three days ago after admitting to an affair with Alice Huang, a former executive at Singapore-based Megaspeed suspected of diverting chips to China in breach of export controls.
- Questioning whether Nvidia disregarded red flags, Bessent demanded answers within 10 days regarding "seemingly illicit sales" that may have inflated the chipmaker's revenues.
- Commerce Secretary Howard Lutnick's department "has the pen" on adding Megaspeed to the export blacklist, though Commerce has declined to list the firm despite support from other agencies.
- Congress could approve a bipartisan export-control bill within weeks, while Nvidia is scheduled to report its third-quarter fiscal 2027 financial results on Tuesday.
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67 Articles
Washington, Nov. 15 (EFE).- U.S. Treasury Secretary Scott Bessent said this Sunday that Nvidia should clarify whether he deliberately circumvented chip export restrictions and urged to look for a leader outside the company after Jensen Huang resigned, amid the infidelity scandal with an alleged spy. Bessent [...] The U.S. Treasury Secretary entry asks Nvidia for answers and urges to elect a new external CEO was first published in HolaNews.
Berliner Morgenpost
Nvidia's leadership crisis is intensifying: Finance Minister Bessent calls for a new boss, while supporters are already working on Huang's comeback.
Zeit Online
U.S. Treasury Secretary Scott Besant has asked Nvidia to provide answers within 10 days about how the company controlled exports of artificial intelligence chips to China. He said the explanations should come from the company’s board of directors and outside legal counsel. “I think we should have answers from the board and outside counsel in the next 10 days,” Besant said in an interview with Fox News. He said Nvidia should investigate whether i…
Following the resignation of Nvidia CEO Huang, US finance minister Bessent is targeting the entire Group. He calls for an external change of leadership at Nvidia and responses to chip sales.
US Treasury Secretary Scott Bessant today asked Nvidia to explain whether it knowingly ignored the illegal trafficking of its artificial intelligence microchips to China. The secretary dismissed the relationship between Nvidia's former CEO and a Chinese woman suspected of espionage as secondary. "What's more important is whether Nvidia had a culture of compliance in enforcing US export restrictions," the Treasury secretary told Fox News, three d…
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