US Treasury Secretary Pressures NVIDIA: Demands Outside Leadership Change, 10-Day Deadline to Address Compliance Issues

Deep News11-15 23:30

Regarding the recent export restriction controversy surrounding NVIDIA (NASDAQ: NVDA), US Treasury Secretary Bessent issued a series of tough statements, demanding that NVIDIA (NASDAQ: NVDA) must seek new leadership from outside the company and carry out a "substantial overhaul" of its current leadership team.

Bessent emphasized that reviewing whether NVIDIA (NASDAQ: NVDA) has complied with export restrictions is of critical importance, and that he will closely monitor whether the company deliberately ignored warning signals.

In addition, Bessent pointed out that reports show only 1% of chips sold in Singapore actually remained in the country, which has raised serious questions about the illegal diversion of chips.

He demanded that NVIDIA (NASDAQ: NVDA)'s board of directors and outside counsel must formally respond within the "next 10 days" regarding the company's export restriction compliance culture.

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