Trump to host Nvidia CEO Jensen Huang at White Home

Nvidia CEO Jensen Huang will meet with President Donald Trump on the White Home on Thursday, CNBC’s Megan Cassella reported.

The assembly comes as Nvidia rose barely on Thursday, turning into the primary firm to shut a buying and selling day with a market cap over $4 trillion, beating Apple and Microsoft to the symbolic milestone. Nvidia touched the mark briefly on Wednesday throughout buying and selling.

Trump praised Nvidia inventory in a social media publish Thursday morning.

“NVIDIA IS UP 47% SINCE TRUMP TARIFFS. USA is taking in A whole lot of Billions of {Dollars} in Tariffs,” Trump posted on Fact Social. “COUNTRY IS NOW ‘BACK.'”

An Nvidia consultant declined to remark, and it was unclear what the assembly is about, however Nvidia has been grappling with export controls on its synthetic intelligence chips applied by the Trump administration in April for nationwide safety causes.

On the time, the U.S. authorities informed Nvidia that its previously-approved H20 processor — meant solely for the Chinese language market — would require an export license. Huang beforehand informed buyers that requirement successfully reduce off Nvidia’s gross sales to China with “no grace interval.” The AI chipmaker stated that it might miss $8 billion in deliberate orders for the chip within the firm’s July quarter.

“The $50 billion China market is successfully closed to U.S. business,” Huang informed buyers on an earnings name in Might.

Nvidia additionally faces one other potential restriction on AI chip exports after the Trump administration cancelled a deliberate rule by former President Joe Biden referred to as the “AI diffusion rule.” The Trump administration promised newer, less complicated restrictions later this yr on which nations may obtain Nvidia’s know-how.

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