Overview
- Trump told reporters he expects to discuss Nvidia’s Blackwell AI chip with China’s Xi on Thursday after first meeting Nvidia CEO Jensen Huang.
- Blackwell processors remain restricted by U.S. export controls that Washington says are needed to limit Chinese military applications.
- Jensen Huang said Nvidia has not applied for licenses to export its newest Blackwell chips to China because Beijing has signaled it does not want the company in the market.
- Although Washington lifted its April halt on H20 sales in July, Nvidia says it has not shipped H20 units to China due to unresolved U.S. payment rules and Chinese discouragement of purchases.
- Trump previously floated allowing certain China sales in return for a 15% U.S. government cut, and China-related sales have accounted for about 13% of Nvidia revenue, underscoring the stakes.