Trump and Nvidia CEO Discuss AI Chip Sales Restrictions

U.S. President Donald Trump will meet Nvidia CEO Jensen Huang as the government considers tighter AI chip export controls to China. Concerns grow over China's AI progress as DeepSeek's app gains popularity, affecting U.S. tech stocks and prompting discussions on restricting Nvidia's H20 chip sales.

U.S. President Donald Trump is set to meet with Nvidia's CEO, Jensen Huang, at the White House this Friday, a senior White House official has confirmed. The meeting follows reports of the Trump administration's plans to explore additional measures to limit AI chip sales to China.

Amidst rising concerns that China is closing the AI development gap with the U.S., new regulations to restrict AI chip exports are expected to be enforced this spring. These measures are part of efforts to retain advanced computing within the U.S. and its allies. Meanwhile, China's DeepSeek has launched an app that quickly became a top download at a lower cost than American models, highlighting competitive worries.

Nvidia, a leading producer of AI chips, saw its shares plummet by 17% in response to these developments. The administration is weighing further restrictions on Nvidia's H20 chip sales to China, as the discourse on export limitations began under Biden's administration. Lawmakers are urging an extensive review of the U.S. export control system in light of these strategic challenges.

(With inputs from agencies.)