Trump to meet with CEO of chipmaker Nvidia

President Trump will meet with the CEO of chipmaking powerhouse Nvidia on Friday as the White House reportedly mulls tightening chip exports to China, a White House official confirmed to The Hill.

The meeting with Nvidia CEO Jensen Huang comes as competition between the U.S. and China heats up over artificial intelligence (AI) development amid the surge of Chinese AI startup DeepSeek earlier this week.

No other details on the meeting were provided.

The popularity of DeepSeek's new large language model, R1, stunned Silicon Valley and the stock market earlier this week, and Nvidia, a leading producer of the chips behind the AI boom, saw its stock price plummet nearly 17 percent by market close on Monday.

This shed almost $600 billion in value for Nvidia and raised new questions about the future of American-made AI and the money being spent on it.

Trump officials are in talks to tighten curbs on Nvidia's chips to the China market, Reuters reported earlier this week.

DeepSeek claims it spent just $5.6 million to train its latest models, a number that pales in comparison to the billions of dollars spent by AI firms every year to develop new models.

DeepSeek also reportedly claimed last year it had limited access to chips and used just 2,000 second-tier Nvidia chips to train its models v3 and R1 as a result of the Biden administration's tightened rules on chip exports to China.

Some AI business leaders have cast doubt about the company’s claims.

A Nvidia spokesperson later told The Hill the company is s “ready to work with the Administration as it pursues its own approach to AI.”

“The thresholds set by the Biden Administration are based on performance levels reached five years ago and achieved by leading gaming and workstation products,” the spokesperson added.

Jensen did not attend Trump's inauguration due to being in China at the time.

The Hill's Alex Gangitano and Julia Shapero contributed.

Topics

Nvidia CEO Jensen Huang to meet with Trump at White House

Nvidia CEO is set to have his first meeting with President Donald Trump since the beginning of his second administration.
CNBC - 2h
Nvidia boss Huang set to meet Trump at White House

Meeting had been arranged before news about advances in artificial intelligence by China’s DeepSeek
Financial Times - 4h
Nvidia’s CEO, whose chips play a key role in the DeepSeek drama, becomes latest corporate exec to pay a visit to Trump

President Trump is slated to meet Friday afternoon with Nvidia Corp. Chief Executive Jensen Huang at the White House, with their get-together coming as the chip giant has faced questions due to the ...
MarketWatch - 3h
US chipmaker Nvidia rebounds after historic tumble

Wall Street steadies following sharp losses driven by concerns over Chinese AI group DeepSeek
Financial Times - 2d
DeepSeek could represent Nvidia CEO Jensen Huang’s worst nightmare

The recent AI advances by Chinese upstart DeepSeek could be the beginning of a potential nightmare scenario that Nvidia Corp. Chief Executive Jensen Huang has been worrying about since the chip ...
MarketWatch - 3d
Quantum-computing stocks sink as Nvidia CEO delivers a reality check

Shares of Rigetti Computing, Quantum Computing, IonQ and D-Wave fell sharply after Nvidia’s Jensen Huang said that “very simple quantum computers” could be 20 years away.
MarketWatch - Jan. 8
Trump meets with CEO of Walmart at Mar-a-Lago

The president-elect is meeting with the CEOs of major corporations, including Doug McMillon of Walmart, in the days before he takes office on Jan. 20.
ABC News - Jan. 8
Panama Canal CEO Says Meeting Trump's Demands 'Will Lead to Chaos'

The canal executive said China doesn’t control route and U.S. ships can’t get better rates than others.
The Wall Street Journal - Jan. 8
Nvidia CEO Pitches Robotics, Cars as Growth Areas to Consumer-Electronics Audience

Jensen Huang’s address at CES followed a trading session that sent Nvidia’s value to $3.66 trillion.
The Wall Street Journal - Jan. 7