Nvidia Chief Embraces Trump as Chipmaker Reaches Record Heights

The partnership was on full display this week at Nvidia’s GPU Technology Conference in Washington, D.C.—often dubbed the “Super Bowl of AI.” Huang capped a two-hour keynote with praise for Trump’s energy and manufacturing policies, ending with a nod to the president’s signature slogan: “Thank you for making America great again.” Hours later, he boarded a flight to South Korea to attend the APEC Forum, reportedly hoping to meet Trump before his departure.

“There’s a lot of value for Jensen Huang to cozy up with Trump and feel like he’s in his good graces,” said Owen Tedford of Beacon Policy Advisors. “At the same time, Trump wants to be seen as supporting Nvidia’s growth domestically. It’s a mutually beneficial relationship.”

That relationship has already paid dividends. Earlier this year, the administration approved Nvidia’s sale of its H20 chips to China, reversing previous restrictions and triggering bipartisan criticism over national security risks. During his Asia trip, Trump hinted at allowing exports of Nvidia’s next-generation Blackwell chips in a reduced-capacity form—a move that could further ease tensions with Beijing while fueling controversy in Washington.

Trump’s embrace of Nvidia has coincided with the company’s historic ascent. Once known mainly for gaming graphics cards, Nvidia is now the world’s most valuable company with a $5 trillion market capitalization, up from less than $1 trillion before the release of OpenAI’s ChatGPT in late 2022. The surge reflects how essential Nvidia’s chips have become to AI training and infrastructure worldwide.

The two leaders have exchanged public compliments in recent months. Trump has called Huang a “brilliant man,” while Huang described the president as “America’s unique advantage.” At GTC, Huang praised Trump’s work ethic, joking that “100 percent of his phone calls to me are at 10:30 at night, his time, not mine. This president is working like mad to help America be great and for America to win.”

Huang said his role in Washington is to inform and support policymakers as AI reshapes global power. “It’s a completely new adventure for me,” he told reporters. “But I come with one purpose only—to inform and to be in service of the president as he thinks about how to make America great and do the best thing for America.”

Securing American leadership in AI has become a top priority for Trump’s second administration, which has streamlined permitting for AI-related energy projects and pushed back on state-level regulation. But China’s ambitions remain a major source of tension. Trump recently walked back a 100 percent tariff threat in exchange for China delaying new export controls on rare earth minerals, which are vital to semiconductor manufacturing.

Analysts say Nvidia sits at the center of this uneasy balance. “In some ways, Huang can be a bridge between the U.S. and China when times are good,” Tedford said. “But if Trump decides China isn’t delivering, that relationship could start to fall apart.”

Others are more optimistic. “It’s a unique relationship that has legs because they both need each other,” said Wedbush analyst Dan Ives. “Trump needs a win in AI, and Huang needs Washington on his side. For now, that alignment is working for both.”