US administration is not eyeing stake in Nvidia: Scott Bessent

US Treasury Secretary Scott Bessent on Wednesday said the Trump administration has no plans to take a stake in Nvidia but will instead focus on investing in critical industrial sectors. His comments follow heightened speculation after the White House revealed it intends to acquire positions in strategic companies, as it did last week with Intel.

In a Fox Business interview, the Treasury Secretary ruled out a government stake in NVIDIA, but indicated that strategic sectors such as shipbuilding could be candidates for future investment.

“The administration doesn’t believe Nvidia needs financial support—that seems not on the table right now,” Bessent told Fox Business. “But could there be other industries we’re reshaping, like shipbuilding? Sure, there could be things like that. These are critical industries where we have to be self-sufficient in the United States.”

The remarks underscore the administration’s shift toward active state participation in industries deemed vital to national security and economic independence. Last week, the White House announced a near-10% stake in chipmaker Intel, marking a rare intervention in a leading American technology company. Earlier in June, it also took a so-called “golden share” in U.S. Steel as part of its approval of the company’s sale to Japan’s Nippon Steel, giving Washington influence over operations.