{"id":337323,"date":"2026-11-15T18:10:49","date_gmt":"2026-11-15T18:10:49","guid":{"rendered":"https:\/\/usa.timesofnews.com\/breaking-news\/political\/bessent-calls-for-dramatic-shakeup-at-nvidia-urges-outside-ceo.html"},"modified":"2026-11-15T18:10:49","modified_gmt":"2026-11-15T18:10:49","slug":"bessent-calls-for-dramatic-shakeup-at-nvidia-urges-outside-ceo","status":"publish","type":"post","link":"https:\/\/usa.timesofnews.com\/breaking-news\/political\/bessent-calls-for-dramatic-shakeup-at-nvidia-urges-outside-ceo.html","title":{"rendered":"Bessent calls for \u2018dramatic shakeup\u2019 at Nvidia, urges outside CEO"},"content":{"rendered":"<p id=\"MainContent\">\n<header class=\"ArticleHeader-articleHeader\" id=\"main-article-header\"><span>WATCH LIVE<\/span><\/header>\n<p><span class=\"HighlightShare-hidden\"><\/span><\/p>\n<p class=\"RelatedQuotes-text\">In this article<\/p>\n<ul class=\"RelatedQuotes-list\">\n<li class=\"QuoteItem-item\" aria-label=\"Quote for null\"><span class=\"QuoteItem-symbol\">NVDA<\/span><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"RegularArticle-WatchlistDropdown\" data-analytics-id=\"RegularArticle-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/li>\n<\/ul>\n<p>Treasury Secretary <a href=\"javascript:void(0)\">Scott Bessent<\/a> on Sunday called for a &#8220;dramatic shakeup&#8221; at <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-2\">Nvidia<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> after CEO <a href=\"javascript:void(0)\">Jensen Huang<\/a>&#8216;s resignation, questioning whether the chipmaker pursued illicit sales of its advanced artificial intelligence chips to boost earnings.<\/p>\n<p>Bessent said Nvidia&#8217;s board should look outside the company for its next chief executive and suggested other executives should face scrutiny over the chip giant&#8217;s compliance with U.S. export controls.<\/p>\n<p>&#8220;I want to keep coming back to what was the culture at Nvidia, and were they pressing these seemingly illicit sales to goose their revenues and their earnings?&#8221; Bessent said in an interview on Fox News.<\/p>\n<p>The remarks come as Bessent has stepped up his criticism of Nvidia and amid a growing feud with Commerce Secretary <a href=\"javascript:void(0)\">Howard Lutnick&#8217;s<\/a> department over the suspected diversion of advanced AI chips to China, all while defending President <a href=\"javascript:void(0)\">Donald Trump&#8217;s<\/a> handling of the matter.<\/p>\n<p>Huang <a href=\"javascript:void(0)\">resigned Thursday<\/a> following revelations about his relationship with Alice Huang, a former executive at Singapore-based <a href=\"javascript:void(0)\">Megaspeed<\/a>, whom U.S. intelligence officials suspect of spying for China. Megaspeed is suspected of diverting Nvidia chips to China in violation of U.S. export controls.<\/p>\n<p>Nvidia named Chief Financial Officer <a href=\"javascript:void(0)\">Colette Kress<\/a> interim CEO.<\/p>\n<p>Bessent suggested Sunday that Nvidia&#8217;s problems extended well beyond Huang.<\/p>\n<p>&#8220;If this were a bank and they hadn&#8217;t complied like this, the OCC would be in there right now, and a lot of the executives would be removed,&#8221; Bessent said, referring to the Office of the Comptroller of the Currency.<\/p>\n<p>Bessent also questioned Nvidia&#8217;s financial disclosures, pointing to a surge in reported Singapore revenue as its China sales fell.<\/p>\n<p>Nvidia stopped separately reporting Singapore revenue in November 2025, saying a new methodology based on customers&#8217; headquarters rather than billing addresses better reflected the geographic distribution of its sales.<\/p>\n<p>Bessent&#8217;s remarks came two days after he <a href=\"javascript:void(0)\">told CNBC&#8217;s &#8220;Squawk Box&#8221;<\/a> that several federal agencies had supported adding Megaspeed to the government&#8217;s export blacklist for months.<\/p>\n<p>&#8220;But Commerce has the pen,&#8221; Bessent said.<\/p>\n<p>The public rebuke followed reporting by <a href=\"javascript:void(0)\">Axios<\/a> that Bessent confronted Lutnick in the White House Situation Room over Commerce&#8217;s failure to act against Megaspeed. Commerce denied that the confrontation took place.<\/p>\n<p>Lutnick is also facing scrutiny over his family&#8217;s financial ties to Nvidia. CNBC reported Friday that Cantor Fitzgerald, the Wall Street firm formerly run by Lutnick and now led by his sons, has helped <a href=\"javascript:void(0)\">arrange billions of dollars in financing<\/a> for Nvidia&#8217;s business partners.<\/p>\n<p>Cantor said Nvidia share holdings fell nearly 50% over six months as national security concerns surrounding Huang escalated. The positions were associated with client swap transactions, not proprietary investments, the investment bank said.<\/p>\n<p>There is no evidence Lutnick shared sensitive information with his sons or that Cantor traded on such information.<\/p>\n<p>Bessent on Sunday said Trump had drawn a firm line against sales of chips more advanced than <a href=\"javascript:void(0)\">Nvidia&#8217;s H200 to China<\/a>. Trump himself authorized H200 sales to approved Chinese customers in December \u2014following months of lobbying by Huang \u2014 in an arrangement under which the U.S. government would receive a 25% cut.<\/p>\n<p>Bessent&#8217;s latest criticism comes two days before Nvidia is scheduled to report its first quarterly earnings since Huang&#8217;s departure.<\/p>\n<p>Article source: https:\/\/www.cnbc.com\/2026\/11\/15\/bessent-nvidia-ceo-lutnick-megaspeed.html<\/a>\r\n<\/p>","protected":false},"excerpt":{"rendered":"<p>WATCH LIVE In this article NVDA Treasury Secretary Scott Bessent on Sunday called for a &#8220;dramatic shakeup&#8221; at Nvidia after CEO Jensen Huang&#8216;s resignation, questioning whether the chipmaker pursued illicit sales of its advanced artificial intelligence chips to boost earnings. Bessent said Nvidia&#8217;s board should look outside the company for its next chief executive and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[84],"class_list":["post-337323","post","type-post","status-publish","format-standard","hentry","category-political","tag-political"],"_links":{"self":[{"href":"https:\/\/usa.timesofnews.com\/breaking-news\/wp-json\/wp\/v2\/posts\/337323","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/usa.timesofnews.com\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/usa.timesofnews.com\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/usa.timesofnews.com\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/usa.timesofnews.com\/breaking-news\/wp-json\/wp\/v2\/comments?post=337323"}],"version-history":[{"count":0,"href":"https:\/\/usa.timesofnews.com\/breaking-news\/wp-json\/wp\/v2\/posts\/337323\/revisions"}],"wp:attachment":[{"href":"https:\/\/usa.timesofnews.com\/breaking-news\/wp-json\/wp\/v2\/media?parent=337323"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/usa.timesofnews.com\/breaking-news\/wp-json\/wp\/v2\/categories?post=337323"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/usa.timesofnews.com\/breaking-news\/wp-json\/wp\/v2\/tags?post=337323"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}