Bessent questions did Nvidia "goose" earnings with suspect China chip sales

Résumé détaillé

Treasury Secretary Scott Bessent on Sunday questioned whether Nvidia's earnings might have been inflated by inappropriate sales to China and urged the company to hire an outsider…

Treasury Secretary Scott Bessent on Sunday questioned whether Nvidia's earnings might have been inflated by inappropriate sales to China and urged the company to hire an outsider as CEO.

Why it matters: Nvidia is central to the AI economy, which has been key to U.S. economic growth.

Driving the news: In a Fox News appearance Sunday morning, Bessent said Nvidia owes the market an explanation amid allegations former CEO Jensen Huang had an affair with a Chinese spy and oversaw sanctions-evading chip sales to Asian companies.

Bessent also said it was "obvious" that some companies doing business with Nvidia were shell companies for Chinese interests and accused the chipmaker of a "culture of noncompliance."

For the record: Nvidia did not immediately respond to a request for comment on Bessent's remarks.

The intrigue: Huang has been a favorite of President Trump and other administration figures for some time, but Bessent has notably not been as effusive about him as others.

What to watch: Nvidia is due to report quarterly results on Tuesday, its first significant public comments since Huang resigned and CFO Collette Kress took over as acting CEO.

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