Greer says US still wary of Nvidia, wants crown jewel chips kept close

US Trade Representative Jamieson Greer said Thursday that the United States is still worried about Nvidia, and that the most advanced chips — the ones he calls the crown jewels — should stay in American and allied hands. He made the remarks in an interview with CNBC.

Greer also said the US is receiving some of the rare earths it needs from China, but added that Beijing's compliance is not perfect and Washington wants further progress. The comments come as US officials press China to fulfill its commitments under the Busan trade arrangement, including on rare earths and other critical minerals.

Beijing fired back the same day. Chinese Foreign Ministry spokesperson Mao Ning urged Washington to stop using unsubstantiated espionage allegations as a pretext for restricting China's access to technology, rejecting again the allegations surrounding an alleged spying scandal involving Nvidia CEO Jensen Huang. Citing no evidence, she said: the US should stop fabricating espionage narratives to justify its technological blockade — repeating Beijing's line that the claims are a smear campaign. Mao was also asked about reports that Megaspeed International founder Alice Huang is living in Beijing.

Nvidia's own boardroom is churning. Semafor reported Thursday, citing people familiar with the matter, that some directors favor appointing Chief Financial Officer Colette Kress as interim CEO if the board removes founder Jensen Huang. The full board had not decided and directors were scheduled to meet Wednesday evening, according to the report, which also said the company has already hired an outside search firm to identify a successor. The potential leadership change follows a board-commissioned investigation into whether Huang may have disclosed company secrets.

The Wall Street Journal said the board is meeting as soon as today to decide whether to oust Huang over reports of two extramarital affairs, a story that sent Nvidia shares down over 7% in after-hours trading. Elon Musk weighed in on X, saying he would be open to hiring the Nvidia chief. That would be an honor, he wrote.