Nvidia Corp (NASDAQ:NVDA) CEO Jensen Huang has declined an invitation to testify before the Senate Banking Committee this week, drawing criticism from Sen. Elizabeth Warren (D-Mass.).
Warren Presses Nvidia On China And AI Export Controls
Last week, Warren invited Huang to appear at Thursday’s hearing, titled “AI and the American Dream: Promoting Innovation, Affordability, and American Dominance.”
The senator sought testimony on Nvidia’s operations in China and the company’s views on U.S. export controls governing advanced technology sales abroad.
Nvidia Defends Its Commitment To U.S. AI Leadership
In a letter dated June 6, Huang informed the committee that he would be "unable to attend" the hearing but expressed support for its focus on AI and American competitiveness.
He also highlighted Nvidia’s long-standing role in the U.S. AI ecosystem.
The Nvidia chief also invited Warren and other committee members to visit the company’s Santa Clara, California, headquarters.
"I would welcome the opportunity to host you, or any member of the Committee, at NVIDIA's headquarters in Santa Clara to discuss our technology, the American AI ecosystem and how we can support U.S. leadership," the letter read.
Warren Criticizes Huang For Skipping Hearing
“I appreciate Mr. Huang’s response, but the American people deserve answers in a public forum,” Warren said in a statement, CNBC reported.
In a separate post on X, Warren also aimed at Huang’s schedule, arguing that if he had the time to have "dinner at Mar-a-Lago and meet with President Xi in China," he should make time to answer some questions.
China Business Under Pressure
Nvidia has repeatedly warned that stringent export restrictions could undermine U.S. competitiveness and push customers toward foreign alternatives.
Nvidia’s May quarterly filing showed that revenue from customers headquartered in China, including Hong Kong, fell to $4.55 billion in the first quarter from $9.66 billion a year earlier, a decline of about 53%.
Despite the sharp drop, the chipmaker reported record first-quarter revenue of $81.6 billion, up 85% year over year.
Price Action: Nvidia shares closed Monday up 1.73% at $208.64 and slipped 0.47% to $207.65 in after-hours trading, according to Benzinga Pro.
According to Benzinga Edge Stock Rankings, NVDA ranks in the 98th percentile for Growth, reflecting strong performance across short, medium and long-term time frames.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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