Treasury Chief Rules Out U.S. Stake in Nvidia Amid Broader Industrial Strategy

Treasury Secretary Scott Bessent ruled out U.S. financial support for Nvidia, citing the company's stability. While the Trump administration has recently acquired stakes in Intel and U.S. Steel, Bessent suggested potential government investments in other sectors undergoing transformation, such as shipbuilding.

In discussions surrounding potential U.S. government investments, Treasury Secretary Scott Bessent announced that an investment in Nvidia is currently unnecessary, emphasizing the company's strong financial standing.

Bessent hinted at possible stakes in various other sectors, using shipbuilding as a potential example where government intervention might influence reshaping industry dynamics.

This statement follows the Trump administration's recent strategic acquisition of a nearly 10% stake in chipmaker Intel, as well as obtaining a controlling 'golden share' in U.S. Steel's operations through a collaboration with Japan's Nippon Steel.

(With inputs from agencies.)