U.S. Treasury Secretary Scott Bessent said Nvidia needed significant changes to its leadership and questioned the company’s internal export compliance controls. He specifically targeted Megaspeed, a Singapore-based entity, and criticized the Commerce Department’s handling of restrictions on buyers of U.S. technology. His comments came after Nvidia CEO Jensen Huang resigned after 33 years in charge, following allegations of inappropriate conduct and potential espionage links involving Megaspeed executives. Nvidia’s board launched an internal investigation, while Colette Kress was named interim CEO and Harvey C. Jones was appointed chairman of the board. Nvidia shares fell 10% when Huang’s resignation was announced.
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