Nvidia’s board has approached British chipmaker Arm Holdings CEO Rene Haas in its search for a potential successor to Jensen Huang, the Financial Times reported on Friday, citing people familiar with the matter.
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Times → approach → matter
Huang stepped down on Thursday after revelations of extramarital affairs, including one involving a suspected Chinese spy, plunging the chipmaker into crisis and sending shockwaves across an AI industry he helped bankroll.
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he → step → industry
Haas’ name has been making the rounds among analysts since Huang’s exit.
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name → make → exit
He spent seven formative years at Nvidia, rising to vice president and general manager of its computing products business, before joining Arm in 2013.
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He → spend → 2013
He is among several candidates being considered, and there is no guarantee he will be offered the job or accept it, the FT reported.
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FT → consider → it
Arm declined to comment, while Nvidia did not immediately respond to a Reuters request for comment.
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Nvidia → decline → comment
Reuters could not independently verify the report.
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Reuters → verify → report
Haas became Arm CEO in 2022, overseeing the company’s Nasdaq listing in 2023.
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Haas → become → 2023
Arm designs processor architectures and licenses them to other companies that develop chip designs.
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that → design → designs
Historically, its strength has been in mobile phones, and it is expanding into computers.
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it → expand → computers
Arm’s US-listed shares pared losses after the report and were down more than 5 per cent.
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shares → list → report
US Treasury chief blames Commerce Dept for failure in Nvidia scandal
Meanwhile, US Treasury Secretary Scott Bessent on Friday blamed the Commerce Department for failing to blacklist Megaspeed, the Singapore company at the centre of the Nvidia scandal.
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Bessent → blame → scandal
Speaking on CNBC, Bessent said Treasury, the Defence Department, the US Trade Representative’s office and the State Department had backed adding Megaspeed to Washington’s trade blacklist, “for months”.
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Treasury → speak → months
“But Commerce has the pen,” Bessent said.
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Bessent → have → pen
“You will have to ask them about their internal processes.”
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You → have → processes
He said he was “frustrated” because President Donald Trump “made it very clear that China should not receive any Nvidia chips above H100s”.
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China → say → H100s
“Any leakage is very frustrating because it hurts our great companies, and in the AI race gives the Chinese an advantage,” he said.
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he → hurt → advantage
Commerce is led by Secretary Howard Lutnick.
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Commerce → lead → Lutnick
Megaspeed is suspected of helping Chinese firms get around US export controls by buying Nvidia chips for its data centres in Southeast Asia and routing them to China.
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firms → suspect → China
The company reportedly traded more than $4 billion worth of Nvidia chips over two years.
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company → trade → years
Its former director Alice Huang was this week identified in US media as an alleged Chinese intelligence asset who had a relationship with Jensen Huang.
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who → identify → Huang
The two are not related.
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two → relate → ?
Beijing has denied the spying allegations.
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Beijing → deny → allegations
Jensen Huang acknowledged an extramarital affair in a November 8 letter to Nvidia employees that did not name the woman involved and resigned his position on Thursday.
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that → acknowledge → Thursday
Nvidia’s board has said it will investigate, and three US Congress committee chairs have asked him to attend a closed-door briefing on November 18.
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chairs → say → November
Bessent said coverage of the affair had focused too much on Huang’s private life.
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coverage → say → life
“The story thus far has been on Jensen Huang’s personal foibles,” he said.
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he → say → foibles
“The real story here should be: Did Nvidia know their client, and was there a robust effort at Nvidia to make sure that there was no leakage?”
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Nvidia → know → Nvidia
He questioned whether Nvidia had been selling to “what were obviously pass-through shell companies”.
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what → question → ?
“I think it’s important that anyone at the company there be held accountable for that,” Bessent said, adding that there was “a lot of leakage in the system” and that the administration was “constantly working to close that down”.
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administration → think → that
The Aporia
