Nvidia approached Arm CEO Haas to succeed Huang, FT reports

Nvidia's board has reportedly approached Arm Holdings CEO Rene Haas in their search for a potential successor to Jensen Huang, according to the Financial Times. Huang resigned on Thursday following extramarital affairs, including one involving a suspected Chinese spy, which sent shockwaves through the AI industry he helped fuel.

Haas, who spent seven years at Nvidia before joining Arm in 2013, has been a candidate for the position. He currently serves as Arm's CEO. Nvidia's interim CEO, Colette Kress, took over leadership. Arm declined to comment, while Nvidia has not yet responded to a request for information. Haas became Arm's CEO in 2022 and oversaw the company's listing on the Nasdaq in 2023.

The company designs processor architectures and licenses them to other manufacturers. Arm's shares dipped more than 5 percent after the report, while Nvidia's dropped over 3 percent. Meanwhile, US Treasury Secretary Scott Bessent criticized the Commerce Department for failing to blacklist Megaspeed, a Singapore firm linked to the Nvidia scandal.

Bessent blamed Commerce for not having the necessary internal processes to blacklist Megaspeed, which reportedly traded over $4 billion worth of Nvidia chips over two years. The company provided data centers in Southeast Asia to Chinese firms, allegedly bypassing US export controls. Bessent called for accountability within Nvidia and for a thorough investigation into the leak.