Key points
- Senate Banking Chairman Tim Scott asked former Nvidia CEO Jensen Huang to testify on Dec. 3
- Scott said the committee is prepared to subpoena Huang if he doesn't appear voluntarily
- Commerce Secretary Howard Lutnick was asked to testify on Dec. 10 as White House officials weigh his future
Senate Banking Committee Chairman Tim Scott asked former Nvidia (NVDA) CEO Jensen Huang and Commerce Secretary Howard Lutnick to testify publicly before the committee on Dec. 3 and Dec. 10, respectively, CNBC reported. Scott, a South Carolina Republican, sent letters to both men on Thursday.
"Recent reports raise serious concerns about our national security and the protection of sensitive U.S. technology," Scott wrote on X. "The American people deserve answers."
In his letter to Huang, Scott wrote that if Huang fails to appear voluntarily, "the Committee is prepared to use all tools at our disposal, including subpoenas, to conduct this legitimate and necessary oversight."
Huang resigned as Nvidia's CEO on Thursday after reports of his relationship with Alice Huang, whom US authorities suspect of spying for the Chinese government. China has denied that she's a spy. Attorney General Todd Blanche said Thursday that the Justice Department hasn't reached a conclusion on whether she is one, Reuters reported. Spokespeople for Jensen Huang and Lutnick couldn't immediately be reached, according to Reuters.
Nvidia shares closed down 4.3% at $166.19 on Thursday. They traded at $168.17 at 8:13 p.m. ET, up 1.2% from the close.
Lutnick faces pressure from both parties
A growing number of lawmakers have criticized Lutnick over the administration's refusal to add dozens of Chinese companies to a key US trade blacklist, and over whether the government properly oversaw Nvidia's exports to China, according to the Reuters report. Senior White House officials were separately discussing whether Lutnick should be pushed out, the report said.
Earlier Thursday, Rep. Bill Huizenga, a Michigan Republican and vice chair of the House Financial Services Committee, said it would be "helpful" if Lutnick testified in public. Democrats Ron Wyden and Richard Neal, the ranking members of the Senate Finance and House Ways and Means committees, opened an investigation into the administration's approval of Nvidia chip exports to Chinese government-linked companies, in a letter to Lutnick.
Huang has agreed to a closed-door House session
House Foreign Affairs Chairman Brian Mast, a Florida Republican, said Thursday that Huang has agreed to appear before House lawmakers before Thanksgiving. "He has agreed to come," Mast said. "We're in negotiations for which day." The session will likely be under oath and transcribed, with multiple committees involved. Congressional staff spoke with Nvidia on Wednesday night about a date and location for the closed-door briefing, Reuters reported.
Mast and two other House Republican chairmen asked Huang last week to brief them on Nov. 18, the day after Nvidia reports quarterly results. That closed-door House session is separate from Scott's request, which asks Huang to testify publicly before the Senate Banking Committee on Dec. 3.
Mast also said Thursday that he still has confidence in Lutnick. He wants the Commerce Department's Bureau of Industry and Security, which oversees export controls, to be investigated.
