Bessent questions did Nvidia "goose" earnings with suspect China chip sales
Summary
Treasury Secretary Scott Bessent questioned whether Nvidia improperly sold chips to China to increase its earnings and called for the company to choose an outside CEO. Nvidia is scheduled to report quarterly results on Tuesday, its first major public comments since Jensen Huang resigned and CFO Collette Kress became acting CEO.Key Facts
- Bessent said Nvidia's board and outside counsel should provide answers within 10 days about alleged chip sales and the company's business practices.
- Bessent alleged that some companies doing business with Nvidia were shell companies for Chinese interests.
- Bessent urged Nvidia's board to select a CEO from outside the company.
- The allegations include claims that Nvidia oversaw chip sales that evaded sanctions; the claims are not established as fact in the provided information.
- Nvidia had not immediately responded to a request for comment on Bessent's remarks.
- Nvidia is due to report quarterly results on Tuesday.
- Collette Kress, Nvidia's CFO, took over as acting CEO after Jensen Huang resigned.
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