Treasury Secretary Scott Bessent said Wednesday that the U.S. has no plans to buy a stake in Nvidia, despite the Trump administration’s growing willingness to step into private industry.
Bessent said Nvidia “doesn’t need financial support” but left open the possibility of investments in “critical” sectors like shipbuilding.
Nvidia is worth $4.4 trillion - that's 8% of the S&P 500, the largest share one company has ever had. That means markets are braced for an enormous swing when it reports results. Find out more on Reuters Market Rundown. More here: https://t.co/dLGIOIcXEe pic.twitter.com/PbgatelmvB
— Reuters Business (@ReutersBiz) August 27, 2025
His comments follow the administration’s recent decision to convert $11 billion in subsidies and grants into a near-10% stake in Intel. President Donald Trump praised the move, saying he wanted to make “many more cases like it.”
The Intel deal has drawn pushback from investors and analysts who fear government leverage over corporate America. Critics, including the libertarian Cato Institute, warn it sets a precedent of “national champion” policies that are hard to unwind. Still, Trump allies argue the strategy strengthens U.S. self-sufficiency in vital industries neglected for decades.
.@nvidia CEO Jensen Huang: "We are at a transformational time — an inflection point in technology... What @POTUS is announcing today is going to accelerate AI innovation in America... going to fundamentally change the United States' position in the years to come." https://t.co/jMhWEdA6Zp pic.twitter.com/P4GIgnetUc
— Rapid Response 47 (@RapidResponse47) July 23, 2025
