At the White House on Friday, U.S. President Trump and Nvidia CEO Jensen Huang discussed DeepSeek, a Chinese company whose AI model's performance has made waves in the tech world, as well as tightening regulations on AI chip exports, according to a source familiar with the matter.
While Trump described the meeting as positive, mentioning that Huang was a gentleman, no specific details were disclosed. Regarding the meeting outcome, Trump stated, I can't say what's gonna happen. We had a meeting. It was a good meeting.
The meeting aimed to address the upcoming stricter export restrictions on AI chips to keep advanced computing capabilities within the U.S. and its allies, and to limit China's access to such technology.
An Nvidia spokesperson acknowledged the discussion with President Trump, emphasizing the importance of enhancing U.S. technology and AI leadership. The meeting between the president and the CEO of Nvidia, a leading AI chip producer based in Santa Clara, California, was arranged prior to DeepSeek's significant impact on the tech industry.
Concerns about China's advancements in AI have been growing, with DeepSeek introducing a cost-effective alternative that garnered substantial attention. This development raised worries about the U.S.'s position in AI, leading to a substantial decline in U.S. technology stocks, including Nvidia's shares dropping by 17% at one point.
The Trump administration is reportedly considering further restrictions on Nvidia's AI chip sales to China, with bipartisan support from lawmakers seeking increased export controls. These measures follow previous export limitations imposed by the Biden administration on Nvidia's AI chips to China.
Reports suggest that the U.S. Commerce Department has been using U.S. chips restricted from shipment to China.