Liesman Says Tech Firms Could Face Sharper Congressional Scrutiny

Steve Liesman assessed that Jensen Huang’s resignation as Nvidia CEO, combined with Democrats’ control of both chambers, could sharpen scrutiny of technology companies’ ties to the White House and their role in chip export policy.

Liesman pointed to Nvidia’s donation, alongside other large companies, to a White House ballroom project. He said the project has drawn attention to technology executives’ ties to the administration and companies’ role in chip export policy.

A midterm election survey found 90% of respondents viewed corruption as a key or major factor in their vote, one percentage point above the cost of living. A separate pre-election survey found 93% opposed elected officials personally owning or trading stock in federal government contractors. In that survey, 89% opposed a president’s family receiving government contracts.

A Democratic senator has urged Congress to pass bipartisan legislation, including the AI Overwatch Act, to restrict China’s access to advanced U.S. AI technology. The senator has argued that CEOs of large technology companies should not be expected to put national security ahead of company profits.

Steve Liesman said executives may make their public engagement with the White House less visible. Liesman also said some Republicans from swing states may work with Democrats on data center construction, environmental protections and corporate oversight.

Even with control of both chambers, Democrats may not have enough votes to override a presidential veto.