Abstract:
In response to Nvidia's recent export restrictions controversy, U.S. Treasury Secretary Bessent issued a series of tough statements, requiring Nvidia to find new leaders from outside and make "significant adjustments" to the company's existing leadership.
In addition, Bessant pointed out that the report showed that only 1% of the chips sold in Singapore remained locally, which raised serious questions about the illegal flow of chips. He asked Nvidia's board of directors and outside lawyers to provide a formal response "within the next 10 days" on the company's export restriction compliance culture.
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