Trump, Nvidia CEO discuss DeepSeek and AI chip export restrictions
US President Donald Trump and Nvidia (NVDA.O) CEO Jensen Huang met at the White House on Friday to discuss DeepSeek, the Chinese artificial intelligence company whose AI model has shaken the tech world, as well as potential restrictions on AI chip exports, a source familiar with the matter said. Trump provided few details about the meeting but praised Huang, calling him a “gentleman.” "I can't say what's gonna happen. We had a meeting. It was a good meeting," Trump told reporters. The discussion comes as the US government prepares to tighten AI chip export controls this spring to ensure advanced computing power remains within the country and among its allies. The administration is also exploring additional measures to limit China's access to cutting-edge AI technology. Nvidia, the Santa Clara, California-based company that manufactures the world’s most advanced AI chips, acknowledged the meeting in a statement. "We appreciated the opportunity to meet with President Trump and discuss semiconductors and AI policy," an Nvidia spokesperson said. "Jensen and the President discussed the importance of strengthening U.S. technology and AI leadership." The meeting had been arranged before DeepSeek’s AI model made waves in the tech industry, the source said. Trump reportedly believes that the emergence of the Chinese firm means "U.S. companies don't have to spend a ton of money building a low-cost (AI) alternative." The meeting took place amid growing concerns that China is closing the AI development gap with the US. Last week, DeepSeek launched a free AI assistant that it claims operates on less data at a fraction of the cost of American models. Within days, the app became the most downloaded on Apple’s App Store, triggering fears over U.S. AI dominance and contributing to a market selloff that erased roughly $1 trillion in U.S. tech stock value. Shares of Nvidia, one of the top AI chipmakers, plummeted 17% at one point. The Trump administration is now weighing stricter restrictions on Nvidia’s H20 chips, which were designed for the Chinese market, according to three sources familiar with the matter. Discussions remain in the early stages, but efforts to curb chip shipments to China have been ongoing since the administration of former President Joe Biden. The H20 chips, which power AI software, were created to comply with existing U.S. export restrictions imposed under Biden. In 2022, the Biden administration blocked sales of Nvidia’s most advanced AI chip, the H100, to China. Nvidia subsequently introduced the H800, designed to stay within export limits, but that too was restricted in 2023. The company then developed the H20, which is now under scrutiny. Two US lawmakers, Republican John Moolenaar and Democrat Raja Krishnamoorthi, have urged additional restrictions on Nvidia’s AI chip exports. The lawmakers, who lead the House Select Committee on China, called for the move as part of a Commerce and State Department-led review ordered by Trump to reassess US export control policies in response to "developments involving strategic adversaries." Meanwhile, the US Commerce Department is investigating whether DeepSeek has been using restricted American-made chips, Reuters reported on Thursday.
US President Donald Trump and Nvidia (NVDA.O) CEO Jensen Huang met at the White House on Friday to discuss DeepSeek, the Chinese artificial intelligence company whose AI model has shaken the tech world, as well as potential restrictions on AI chip exports, a source familiar with the matter said. Trump provided few details about the meeting but praised Huang, calling him a “gentleman.” "I can't say what's gonna happen. We had a meeting. It was a good meeting," Trump told reporters. The discussion comes as the US government prepares to tighten AI chip export controls this spring to ensure advanced computing power remains within the country and among its allies. The administration is also exploring additional measures to limit China's access to cutting-edge AI technology. Nvidia, the Santa Clara, California-based company that manufactures the world’s most advanced AI chips, acknowledged the meeting in a statement. "We appreciated the opportunity to meet with President Trump and discuss semiconductors and AI policy," an Nvidia spokesperson said. "Jensen and the President discussed the importance of strengthening U.S. technology and AI leadership." The meeting had been arranged before DeepSeek’s AI model made waves in the tech industry, the source said. Trump reportedly believes that the emergence of the Chinese firm means "U.S. companies don't have to spend a ton of money building a low-cost (AI) alternative." The meeting took place amid growing concerns that China is closing the AI development gap with the US. Last week, DeepSeek launched a free AI assistant that it claims operates on less data at a fraction of the cost of American models. Within days, the app became the most downloaded on Apple’s App Store, triggering fears over U.S. AI dominance and contributing to a market selloff that erased roughly $1 trillion in U.S. tech stock value. Shares of Nvidia, one of the top AI chipmakers, plummeted 17% at one point. The Trump administration is now weighing stricter restrictions on Nvidia’s H20 chips, which were designed for the Chinese market, according to three sources familiar with the matter. Discussions remain in the early stages, but efforts to curb chip shipments to China have been ongoing since the administration of former President Joe Biden. The H20 chips, which power AI software, were created to comply with existing U.S. export restrictions imposed under Biden. In 2022, the Biden administration blocked sales of Nvidia’s most advanced AI chip, the H100, to China. Nvidia subsequently introduced the H800, designed to stay within export limits, but that too was restricted in 2023. The company then developed the H20, which is now under scrutiny. Two US lawmakers, Republican John Moolenaar and Democrat Raja Krishnamoorthi, have urged additional restrictions on Nvidia’s AI chip exports. The lawmakers, who lead the House Select Committee on China, called for the move as part of a Commerce and State Department-led review ordered by Trump to reassess US export control policies in response to "developments involving strategic adversaries." Meanwhile, the US Commerce Department is investigating whether DeepSeek has been using restricted American-made chips, Reuters reported on Thursday.