US Treasury Secretary Scott Bessent clarified rumors regarding potential government support for Nvidia, asserting that there are no plans for any financial stake.
Dismissal of Nvidia Financial Support
When asked about potential financial backing for Nvidia, Bessent stated, 'Nvidia does not need financial support,' effectively quelling speculation.
Intel Deal Significance
Bessent also clarified that the recent $11 billion deal with Intel was about securing a return for taxpayers, not giving out handouts. He said, 'President Trump will be the only modern president who creates assets for the American people rather than debt.'
Prospects for Other Sectors
Discussing the possibility of investing in other industries, Bessent noted that the government might look into sectors like shipbuilding, emphasizing the necessity of self-sufficiency in the US. He stated, 'These are critical industries that we have to be self-sufficient in the United States.'
Bessent's statements clearly outline the Trump administration's stance on tech funding, highlighting a strategic approach to national security and self-sufficiency in critical industries.
