Scott Bessent Moved to Military Base, Iran Deal, Nvidia CEO Jensen Huang Investigations, Inflation, China Chip Sales, FAA National Ground Stop
Treasury Secretary Scott Bessent called on Nvidia to hire its next CEO from outside the company following the resignation of Jensen Huang, arguing that questions surrounding the chipmaker’s compliance with U.S. export restrictions warrant a major management shakeup on “Sunday Morning Futures.”
Bessent questioned whether Nvidia’s alleged export compliance failures were isolated incidents or reflected deeper problems within the company.
Nvidia founder and CEO Jensen Huang speaks at the World Economic Forum annual meeting in Davos, Switzerland, January 21, 2026. (AP Photo/Markus Schreiber/AP Images)
“We will see if Nvidia intentionally ignored the warning signs from these shell companies, many of which are based in Singapore,” Bessent said, saying that Nvidia’s accounts showed a collapse in sales in China followed by a sharp rise in sales in Singapore.
“And I saw reports that only 1% of chips sold in Singapore stayed in Singapore,” he added. “It makes me think that as the board looks for a new leader, he needs to get out of the company.”
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“They need a radical overhaul.”
The Treasury chief’s comments follow Huang’s resignation Thursday after Nvidia’s board investigated his affair with a technology executive suspected of being a Chinese intelligence source.
Nvidia Executive Vice President and Chief Financial Officer Colette Kress has been named interim CEO while the company searches for a permanent replacement for Huang. (Nvidia/Handout/Reuters)
Huang also allegedly had extramarital affairs with two Nvidia employees.
Regardless of Huang’s “weaknesses,” Bessent demanded answers “within the next 10 days from the board and outside counsel.”
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Nvidia’s board of directors has contacted René Haas, CEO of British chipmaker Arm, in its search for Jensen Huang’s successor, according to a Financial Times report.
The outlet reported Friday that Haas, who has led Arm since 2022, spent seven years at Nvidia more than a decade ago and has “strong relationships” with Huang and some members of the Nvidia board.
Moor Insights & Strategy founder Patrick Moorhead joins “Fox News Live” to discuss Nvidia’s CEO shakeup.
“We’re not making any comment,” Arm told FOX Business when asked about the report.
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Meanwhile, Colette Kress, Nvidia’s current executive vice president and chief financial officer, has agreed to serve as interim CEO following Huang’s departure, the company announced Thursday.
“The Board of Directors is initiating the search for a permanent CEO and will consider internal and external candidates,” Nvidia said.
Greg Norman-Diamond of FOX Business contributed to this report.
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