Bessent questions did Nvidia "goose" earnings with suspect China chip sales
He also wants Nvidia's next CEO to come from outside.
TL;DR
- Treasury Secretary Scott Bessent questioned Nvidia's earnings, suspecting they were "goosed" by questionable sales to China.
- Bessent urged Nvidia to hire an external candidate as its next CEO.
- He called for the Nvidia board to provide answers within 10 days regarding alleged illicit sales and company culture.
- Concerns exist about the integrity of Nvidia's financial results and leadership, potentially impacting the AI-driven market.
- Nvidia shares have lost over $1.2 trillion in market capitalization since late October.
- Bessent also raised questions about why the Commerce Department did not impose tighter export controls on Nvidia.
- Nvidia is scheduled to report quarterly results soon, marking its first public comments since the former CEO resigned.