Nvidia (NVDA) Stock: CEO Huang Meets Trump on Chip Export Controls

TLDR

• Nvidia CEO Jensen Huang met with President Trump on Wednesday to discuss chip export controls
• The GAIN AI Act, which would require chipmakers to prioritize U.S. customers before selling to China, likely won’t be included in the defense bill
• Huang called state-by-state AI regulation a potential “halt” to the industry and a national security concern
• Trump confirmed he made his position on export controls clear to Huang, calling the CEO a “smart man”
• Huang dismissed concerns about GPU smuggling, noting the chips weigh two tons, have 1.5 million parts, and cost $3 million each

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Nvidia CEO Jensen Huang walked the halls of Capitol Hill on Wednesday with chip export policy on his mind. His visit included a face-to-face with President Trump.

NVIDIA Corporation, NVDA

The meeting came at a critical time for the chip industry. Lawmakers have been weighing whether to include new AI chip export restrictions in the annual defense bill.

Trump kept his comments brief but pointed. “Smart man,” he said about Huang when asked about their meeting. The president confirmed he made his stance on export controls clear.

The administration is currently considering whether to allow Nvidia to sell its H200 chips to China. These chips are one generation behind the company’s current flagship models.

The GAIN AI Act Gets Shelved

The proposed GAIN AI Act would have required chipmakers to offer their AI chips to U.S. customers before obtaining licenses to sell to countries like China. Bloomberg reported the measure won’t make it into the National Defense Authorization Act.

Huang called this decision “wise.” He went further, saying the GAIN AI Act would be “even more detrimental to the United States than the AI Diffusion Act.”

The CEO has argued these restrictions would limit global competition in AI markets. Nvidia had actively opposed the legislation.

House Majority Leader Steve Scalise told CNBC the provision lacks sufficient support. He said lawmakers will keep looking for ways to establish a national standard on AI regulation.

State Regulations Draw Fire

Huang spent much of his Capitol Hill visit criticizing the idea of state-by-state AI rules. He didn’t mince words about the potential consequences.

The CEO argued the U.S. needs to advance AI technology as quickly as possible. “A federal AI regulation is the wisest,” he said.

The AI industry has pushed back hard against state-level rules. Tech companies backed a super PAC called “Leading the Future” to fight these regulations.

Trump urged legislators last month to include a provision preempting state AI laws in favor of one federal standard. That provision also won’t make it into the current defense bill.

Scalise said he and other lawmakers will continue working on a national AI standard. The issue remains on the table for future legislation.

During an event at the Center for Strategic and International Studies, Huang addressed smuggling concerns. Some critics worry Nvidia’s chips are being illegally moved to banned countries in large volumes.

The chips contain 1.5 million parts each. They consume 200,000 watts of power. Each unit costs $3 million.

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