Nvidia CEO Jensen Huang Meets President Trump at White House

President Donald Trump met with Jensen Huang, CEO of Nvidia Corp., at the White House on Friday. The meeting took place as the US considers imposing tariffs on semiconductors, evaluating the future of a chip subsidy program, and investigating whether Chinese AI startup DeepSeek circumvented export controls to acquire Nvidia’s products.

Trump confirmed that tariffs on chips would eventually be implemented, despite the meeting with Huang. The current restrictions on shipping to China involve license requirements managed by the Department of Commerce. An Nvidia spokesperson stated that Huang appreciated the opportunity to discuss semiconductors and AI policy with President Trump, emphasizing the importance of strengthening US technology and AI leadership.

The meeting occurred at the end of a tumultuous week for Nvidia, the leading manufacturer of AI-powered chips. DeepSeek’s release of its R1 model, which is competitive with other companies’ chatbots at a lower cost, raised concerns about the effectiveness of the billions spent on AI technology development. This led to a significant selloff in Nvidia’s shares, with the stock declining 3.7% to $120.07 at the close on Friday, marking a 16% cumulative slide for the week.

Trump administration officials are probing whether DeepSeek acquired banned Nvidia chips through intermediaries in Singapore, bypassing US restrictions on AI processor sales. The meeting between Huang and Trump had been planned for several weeks, with the aim of discussing AI policy, not in response to DeepSeek’s breakthrough.

Nvidia has been lobbying against stringent controls on global sales of its processors, with Huang expressing optimism about potential regulatory easing under Trump’s administration. Early indications suggest that the new administration will adopt a tough stance on US technology sales to China. Some officials are interested in curbing exports of less-advanced chips that Nvidia sells.

Trump recently announced a $100 billion investment in AI infrastructure, with plans to reach $500 billion in the future. On Thursday, OpenAI CEO Sam Altman urged US policymakers to invest heavily in physical infrastructure to support AI development during a closed-door meeting in Washington.