The White House official announced that US President Trump will meet with Nvidia’s CEO, Jensen Huang, on Friday at the White House. This meeting comes as the Trump administration is studying tightening the export of AI chips to China.
Details of the meeting have not been immediately disclosed. It is expected that Trump and Huang will discuss AI, as well as the chips and power needed for training AI models and semiconductor manufacturing facilities.
A few days ago, the Chinese AI startup DeepSeek released an AI chatbot. DeepSeek claims that its chatbot was trained on 2,000 Nvidia H800 chips at a cost of less than $6 million. However, critics have expressed doubts about this figure.
The launch of DeepSeek’s AI model on Monday triggered a strong global market reaction, leading to a 17% drop in Nvidia’s stock price on that day, causing a market value loss of $593 billion. The total market value of US tech stocks evaporated by about $1 trillion.
The US is preparing to further restrict the export of AI chips in order to keep advanced computing capabilities in the hands of the US and its allies, while seeking more ways to prevent the Chinese Communist Party from obtaining these advanced chips. The new regulations are expected to take effect this spring.
Three sources said on Wednesday to Reuters that the Trump administration is considering tightening restrictions on the sale of H20 chips by Nvidia. H20 is a chip designed by the company specifically for the Chinese market.
The sources also indicated that discussions among Trump officials regarding limiting the export of these chips to China are still in the early stages, adding that this idea has been under consideration since the Biden administration.
Chairman of the House Special Committee on the Chinese Communist Party, Republican John Moolenaar, and the committee’s chief Democratic Raja Krishnamoorthi, have requested further restrictions on Nvidia’s AI chip exports. This is part of a review led by the Department of Commerce and the State Department aimed at examining the US export control system based on “evolving circumstances.”