Trump backs Tim Cook to lead Nvidia
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Washington, Nov 12 (IANS) President Donald Trump on Thursday backed Apple executive chairman Tim Cook to succeed Jensen Huang at Nvidia, intervening in the chipmaker’s leadership search as lawmakers demanded answers over allegations involving US national security.
“Now that Nvidia CEO Jens Huang, who has done a fantastic job, has resigned, there is only one man to take his place - Tim Cook of Apple. A Legend replaces a Legend!” Trump wrote on Truth Social.
The president’s endorsement came after Nvidia announced that its board had accepted Huang’s resignation and appointed finance chief Colette Kress as interim chief executive.
Trump’s post did not indicate whether Cook was interested in the position or had discussed it with Nvidia. The company said its board was initiating a search for a permanent chief executive and would consider internal and external candidates.
The post also did not address the allegations raised by lawmakers or mention Kress.
Nvidia’s filing with the US Securities and Exchange Commission said the board accepted Huang’s resignation as president, chief executive and director on November 11, effective immediately. The company announced the change on Thursday.
Neither the filing nor Nvidia’s announcement gave a reason for his departure or included a statement from Huang.
Kress, 59, will retain her responsibilities as executive vice president and chief financial officer while serving as interim chief executive. Nvidia also appointed longtime director Harvey C. Jones as its first board chair.
The leadership change drew a sharply different response from House Select Committee on China Chairman John Moolenaar, a Michigan Republican, who called for changes in Nvidia’s corporate practices and stronger export controls.
“It is in our national interest for NVIDIA and our other AI champions to succeed, but American companies should never jeopardise our nation's security by giving Chinese companies access to their most advanced chips,” Moolenaar said.
He urged Congress to include bipartisan export-control legislation in the year-end national defence bill.
Moolenaar described Huang’s departure as a “firing”. Nvidia’s regulatory filing, however, said the board had accepted his resignation.
Senate Democratic Leader Chuck Schumer said Huang’s exit should not end congressional scrutiny of the company or the administration.
“Despite Jensen Huang's resignation, Congress must demand answers from Mr. Huang and others at Nvidia about how they may have put U.S. national security at risk,” Schumer wrote on X.
Schumer also demanded answers about what the administration knew concerning an alleged relationship between Huang and a suspected Chinese intelligence asset. He questioned whether Huang’s relationship with Trump had affected any investigation.
Those allegations were not addressed in Nvidia’s resignation announcement or its SEC filing. Neither document named a person in connection with them, and Trump’s endorsement of Cook did not discuss them.
Nvidia shares traded at $165.38 at 11:51 a.m. Eastern Time, down about 4.8 per cent from Wednesday’s close, according to Nasdaq. Earlier in the session, they fell as low as $148.80, roughly 14.3 per cent below the previous close.
The company said it would report its third-quarter fiscal 2027 results on November 17 as scheduled.
Cook became Apple’s chief executive in 2011 and moved to executive chairman on September 1, when John Ternus succeeded him as CEO. Apple’s April announcement said Cook would assist with aspects of the business, including engagement with policymakers around the world.
Kress has served as Nvidia’s executive vice president and chief financial officer since 2013. Jones has been a director since 1993, giving both executives longstanding roles at the company as its board searches for Huang’s permanent successor.
“Now that Nvidia CEO Jens Huang, who has done a fantastic job, has resigned, there is only one man to take his place - Tim Cook of Apple. A Legend replaces a Legend!” Trump wrote on Truth Social.
The president’s endorsement came after Nvidia announced that its board had accepted Huang’s resignation and appointed finance chief Colette Kress as interim chief executive.
Trump’s post did not indicate whether Cook was interested in the position or had discussed it with Nvidia. The company said its board was initiating a search for a permanent chief executive and would consider internal and external candidates.
The post also did not address the allegations raised by lawmakers or mention Kress.
Nvidia’s filing with the US Securities and Exchange Commission said the board accepted Huang’s resignation as president, chief executive and director on November 11, effective immediately. The company announced the change on Thursday.
Neither the filing nor Nvidia’s announcement gave a reason for his departure or included a statement from Huang.
Kress, 59, will retain her responsibilities as executive vice president and chief financial officer while serving as interim chief executive. Nvidia also appointed longtime director Harvey C. Jones as its first board chair.
The leadership change drew a sharply different response from House Select Committee on China Chairman John Moolenaar, a Michigan Republican, who called for changes in Nvidia’s corporate practices and stronger export controls.
“It is in our national interest for NVIDIA and our other AI champions to succeed, but American companies should never jeopardise our nation's security by giving Chinese companies access to their most advanced chips,” Moolenaar said.
He urged Congress to include bipartisan export-control legislation in the year-end national defence bill.
Moolenaar described Huang’s departure as a “firing”. Nvidia’s regulatory filing, however, said the board had accepted his resignation.
Senate Democratic Leader Chuck Schumer said Huang’s exit should not end congressional scrutiny of the company or the administration.
“Despite Jensen Huang's resignation, Congress must demand answers from Mr. Huang and others at Nvidia about how they may have put U.S. national security at risk,” Schumer wrote on X.
Schumer also demanded answers about what the administration knew concerning an alleged relationship between Huang and a suspected Chinese intelligence asset. He questioned whether Huang’s relationship with Trump had affected any investigation.
Those allegations were not addressed in Nvidia’s resignation announcement or its SEC filing. Neither document named a person in connection with them, and Trump’s endorsement of Cook did not discuss them.
Nvidia shares traded at $165.38 at 11:51 a.m. Eastern Time, down about 4.8 per cent from Wednesday’s close, according to Nasdaq. Earlier in the session, they fell as low as $148.80, roughly 14.3 per cent below the previous close.
The company said it would report its third-quarter fiscal 2027 results on November 17 as scheduled.
Cook became Apple’s chief executive in 2011 and moved to executive chairman on September 1, when John Ternus succeeded him as CEO. Apple’s April announcement said Cook would assist with aspects of the business, including engagement with policymakers around the world.
Kress has served as Nvidia’s executive vice president and chief financial officer since 2013. Jones has been a director since 1993, giving both executives longstanding roles at the company as its board searches for Huang’s permanent successor.
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Note: The content of this article is sourced from a news agency and has not been edited by the ap7am team.