Nvidia's Jensen Huang meets Trump ahead of China trip: Bloomberg
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The news: Nvidia CEO Jensen Huang is meeting with US President Donald Trump at the White House Thursday (Friday AEST), a day before Huang’s plans a trip to China, Bloomberg reported citing unnamed sources.
Details of what the two men discussed weren’t immediately available, and those familiar with the meeting declined to elaborate on the agenda. Spokespeople for the White House and Nvidia did not respond to requests for comment from Bloomberg.
The context: Huang is a frequent visitor to China and is scheduled to travel to Beijing where he’ll meet with senior Chinese officials including the commerce minister and take part in the International Supply Chain Expo next week, Bloomberg said.
A day earlier, The Financial Times reported Huang planned to visit the Asian country ahead of the launch of a new artificial intelligence chip designed specifically for that market, scheduled for September.
Huang has criticised US export restrictions imposed in April that blocked Nvidia from selling its H20 chip made for the China market, which he called “a springboard to global success.” The curbs cost the company USD2.5 billion in sales during the first quarter and Nvidia expects a sales hit of USD8 billion in the second quarter.
The meeting came as Nvidia’s market value closed above USD4 trillion for the first time.
Also travelling to China this weekend is Australian Prime Minister Anthony Albanese. Albanese’s six-day trip will be focused on deepening economic ties with Australia’s largest trading partner, despite ongoing security tensions.
What they said: Ahead of the meeting, Trump had said in a social-media post: “NVIDIA IS UP 47% SINCE TRUMP TARIFFS.”
The source: Bloomberg
