Scott Bessent Says Acquiring Stake In Nvidia 'Not On The Table,' Hints Shipbuilding Sector Could Be Next

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companies.Bessent, in a recent interview with Fox Business, stated that Trump, with his business acumen, formulated this strategy, which includes exploring the potential for the American taxpayer to participate in the upside of grants given to companies like Intel Corporation (NASDAQ:INTC).  The Treasury Secretary noted an immediate value of $11 billion because of this, which could potentially increase.Emphasizing the strategic importance of chips for the U.S., a lesson learned from the COVID-19 pandemic, Bessent identified five to seven strategic vulnerabilities in critical industries. The President aims to de-risk these areas, offering significant upside for taxpayers.Trending: The same firms that backed Uber, Venmo and eBay are investing in this pre-IPO company disrupting a $1.8T market — and you can too at just $2.90/share.When asked about the possibility of the President taking a stake in NVIDIA Corporation (NASDAQ:NVDA), Bessent stated that it seems unlikely, as NVIDIA doesn’t require financial support. “That seems not on the table right now,” he said.However, Bessent didn’t rule out the possibility of reshaping other critical industries like shipbuilding. He also pointed out the potential national security risk posed by the fact that 99% of advanced chips worldwide are manufactured in Taiwan. “That’s a national security risk like we haven’t seen since the Arab oil embargo,” Bessent added.Notably, Nvidia and Advanced Micro Devices (NASDAQ:AMD) have agreed to give 15% of their China chip sales to the U.S. government to secure export licenses for their advanced AI chips, H20 and MI308.See Also: Dump Your Financial Advisors. One AI Platform Manages Everything — With Zero AUM Fees. Book Your Demo Today.Earlier in August, President Trump announced a 10% stake in Intel, a move that saw the company’s stock rise by over 6%. This was followed by the administration’s consideration of buying stakes in major defense contractors, a move that saw defense stocks rise on Tuesday.Despite the initial positive market reactions, some experts have issued warnings. Jamie Cox, Managing Partner for Harris Financial Group, stated that the U.S. acquired stakes in major banks during the global financial crisis, and those stocks remained stagnant for a decade. Cox added that any company giving up a stake to the government today should proceed with caution.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,460.26 -41.60 (-0.64%)Dow 3045,544.88 -92.02 (-0.20%)Nasdaq21,455.55 -249.61 (-1.15%)Russell 20002,366.42 -11.99 (-0.50%)VIX15.36 +0.93 (+6.44%)Gold3,516.10 +41.80 (+1.20%)PortfolioSign in to access your portfolioSign inTop gainersAMBA Ambarella, Inc. 82.48 +11.85 (+16.78%)IREN IREN Limited 26.48 +3.44 (+14.93%)BABA Alibaba Group Holding Limited 135.00 +15.43 (+12.90%)AFRM Affirm Holdings, Inc. 88.46 +8.47 (+10.59%)DOOO BRP Inc. 62.98 +5.49 (+9.55%)Top losersMRVL Marvell Technology, Inc. 62.87 -14.36 (-18.60%)CHA Chagee Holdings Limited 19.11 -2.89 (-13.14%)RMBS Rambus Inc. 73.77 -7.32 (-9.03%)DELL Dell Technologies Inc. 122.15 -11.90 (-8.88%)BLSH Bullish 59.03 -5.40 (-8.38%)Most activeWBA Walgreens Boots Alliance, Inc. 11.98 0.00 (0.00%)OPEN Opendoor Technologies Inc. 4.4500 +0.1800 (+4.22%)NVDA NVIDIA Corporation 174.18 -5.94 (-3.30%)LCID Lucid Group, Inc. 1.9800 -0.0900 (-4.35%)MRVL Marvell Technology, Inc. 62.87 -14.36 (-18.60%)Earnings eventsMy earnings eventsEarnings eventsTrending tickersBABA Alibaba Group Holding Limited 135.00 +15.43 (+12.90%)BTC-USD Bitcoin USD 108,300.64 -2,722.78 (-2.45%)ORCL Oracle Corporation 226.13 -14.19 (-5.90%)^IXIC NASDAQ Composite 21,455.55 -249.61 (-1.15%)FLYY Spirit Aviation Holdings, Inc. 1.2200 -0.0300 (-2.40%)Top economic events