🧠 Food for thought

Implications, context, and why it matters.

This trip caps a high-stakes push as curbs tighten

• Jensen Huang was reportedly on Air Force One after calling U.S. export controls a failure and saying they pushed Chinese innovation 1.
• Nvidia’s China share fell from nearly 95% to about 50% since the Biden administration began in 2021, Huang said 1.
• Nvidia plans a roughly US$5.5 billion quarterly charge tied to H20 inventory, purchase commitments, and related reserves after new licensing rules restricted the chip 2.
• The rules have shifted fast. The Trump administration tightened H20 limits in April, then weighed H200 exports to approved customers while terms were still being worked out 23.
• Huang has pushed to reopen China sales. Nvidia previously said China made up about 14% of revenue, or about US$17.11 billion, in fiscal 2025 2.

The result could shape U.S. tech controls beyond Nvidia sales

• The talks pit U.S. chipmakers’ sales goals against Washington’s national security aims 4.
• Trump’s advisers opposed talks on exports of Nvidia’s Blackwell AI chips to China, keeping a hard line on the most advanced products 4.
• One proposal said the U.S. would take 25% of proceeds from approved chip sales, though lawmakers questioned whether that would be legal 3.
• Export controls have pushed China to speed up domestic options, while Nvidia warned that limits can strengthen rivals such as Huawei, the Chinese telecoms and technology giant 1.
• Even limited sales, if allowed, could help fund a future rival, a risk Huang has raised while arguing that U.S. firms should stay active in China 5.