Treasury chief calls for Nvidia shakeup after Jensen Huang resigns

Treasury Secretary Scott Bessent has called for a major restructuring at Nvidia following the resignation of Chief Executive Officer Jensen Huang. Bessent questioned whether the company broke export rules on advanced artificial intelligence chipsArtificial intelligence chipsSpecialized microchips designed to quickly process complex tasks required by modern machine learning systems. Open in glossary to boost its profits.

Export controls and leadership questions

Bessent stated that Nvidia’s board should hire an outside leader rather than promoting from within. He also suggested that other company executives should face scrutiny over compliance with United States export rules. Huang stepped down after reports surfaced regarding his ties to a former executive at Singapore-based Megaspeed. American intelligence officials suspect the former executive of spying for China, and authorities suspect Megaspeed of routing Nvidia chips to China against trade limits.

Following Huang’s exit, Nvidia appointed Chief Financial Officer Colette Kress as interim CEOInterim CEOA temporary chief executive appointed to lead a company while searching for a permanent hire. Open in glossary. Bessent argued that if Nvidia were a regulated bank, regulators would have already stepped in to remove leaders. He also raised concerns over Nvidia’s past accounting disclosures, pointing to a jump in revenueRevenueAll the money a company takes in from sales, before costs. Open in glossary booked in Singapore while sales in China fell. Nvidia previously altered its reporting methods in November 2025 to track customer headquarters instead of billing addresses.

Cabinet friction over trade enforcement

The situation has fueled a disagreement between Bessent and Commerce Secretary Howard Lutnick regarding chip diversion. Bessent stated that multiple federal agencies supported blacklisting Megaspeed months ago. The Commerce Department has denied reports of a direct confrontation between the two officials.

President Donald Trump previously approved sales of Nvidia’s H200 chips to vetted Chinese buyers under a deal where the U.S. government takes a 25 percent cut. However, Bessent stressed that sales of chips more advanced than the H200 remain banned. The scrutiny arrives as Nvidia prepares to release its first quarterly earnings report since Huang’s departure.