U.S. Treasury Secretary Scott Bessent called for a “dramatic shakeup” at Nvidia after the resignation of CEO Jensen Huang, questioning whether the company made illicit sales of advanced AI chips to boost revenue. He urged Nvidia’s board to search for its next chief executive outside the company and called for greater scrutiny of compliance with U.S. export controls. Huang resigned Thursday after revelations about his relationship with Alice Huang, a former Megaspeed executive suspected of spying for China; Megaspeed is also accused of diverting Nvidia chips to China. Nvidia appointed Chief Financial Officer Colette Kress as interim CEO, while Bessent also challenged the surge in reported Singapore revenue. His comments came before Nvidia’s first quarterly earnings report since Huang’s departure, despite the U.S. authorization of H200 sales to selected Chinese customers in a deal that gives the government a 25% share of the proceeds.
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