Finance
Howard Lutnick faces scrutiny as his sons' firm maintains deep ties to Nvidia
Commerce Secretary Howard Lutnick is facing questions over an Nvidia spy scandal due to his family firm's extensive business connections with the chipmaker.
Cantor Fitzgerald, a Wall Street firm formerly run by Howard Lutnick and currently led by his sons Brandon and Kyle, has maintained close ties to Nvidia and helped arrange billions in financing for the chipmaker's business partners. However, the firm also reported a nearly 50% drop in its Nvidia stock holdings between September 2025 and March 2026. This reduction coincided with intelligence warnings and reports that Lutnick resisted White House efforts to crack down on a Singapore-based company suspected of funneling advanced AI chips to China. Although ethics experts note there is no proof of wrongdoing or information-sharing, the overlap between Lutnick's official knowledge and his family firm's investments has raised conflict-of-interest concerns following Nvidia CEO Jensen Huang's resignation.
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