US Treasury Secretary Scott Bessent on Wednesday dismissed the notion that the US government would take an ownership stake in semiconductor company Nvidia Corp (NASDAQ:NVDA, ETR:NVD).
"I don't think Nvidia needs financial support, so that seems not on the table right now," he told Fox Business' "Mornings with Maria" program.
Bessent did, however, suggest the US government could make investments in other industries.
"Could there be other industries where we're reshaping, something like shipbuilding? Sure, there could be things like that," the Treasury Secretary added.
On Tuesday, Commerce Secretary Howard Lutnick said the Trump administration is exploring the possibility of acquiring equity stakes in US defense companies.
And last week, the administration acquired a near-10% equity interest in Intel. In July, it took an approximately 15% stake in rare-earths producer MP Materials and brokered agreements with Nvidia and AMD involving revenue from sales to China.
Nvidia's stock price was little changed in midday trading on Wednesday but has gained nearly 32% year to date to its current price of $182