Bessent says Nvidia needs "dramatic" leadership shakeup

Detailed summary

Treasury Secretary Scott Bessent said Sunday that Nvidia Corp. (NASDAQ:NVDA) requires a dramatic leadership change following the removal of chief executive Jensen Huang.

Investing.com -- Treasury Secretary Scott Bessent said Sunday that Nvidia Corp. (NASDAQ:NVDA) requires a dramatic leadership change following the removal of chief executive Jensen Huang.

Bessent told Fox News's Sunday Morning Futures that the company should search for leadership outside the firm after accusations emerged that Nvidia facilitated sales of advanced artificial-intelligence chips to Chinese entities.

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"This makes me think that as the board conducts a search for a new leader that they need to go outside the company," he said. "They needed a dramatic shakeup."

Bessent said he wants to determine whether Nvidia knowingly overlooked warning signs of shell companies, many based in Singapore, that funneled chips to China.

"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?" Bessent said. "And I think we need answers in the next 10 days from the the board and from the outside counsel."

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