Trump confirms Nvidia chip agreement
Nvidia will pay the United States 15% of the money it makes from selling artificial intelligence chips to China, President Donald Trump said in a press conference on Monday.
Trump said he allowed Nvidia CEO Jensen Huang to sell H20 chips to China while the company provides the U.S. government with a kickback of the profits.
“The H20 is obsolete,” Trump said. “So we negotiate a little deal so he’s, essentially, selling an old chip,” Trump added, referring to Huang.
Trump said he initially asked for a 20% cut from sales of Nvidia’s chips but the two landed on 15%.
In April, Trump banned Nvidia from selling H20 chips to China. The administration later reversed the ban in July.
A coalition of democratic lawmakers, including Sen. Chuck Schumer, D-N.Y., criticized the administration’s July reversal.
“Limiting the PRC’s access to advanced compute has been a focus of Congress: one with a strong bipartisan commitment across both chambers and both parties,” The letter read.
“The PRC’s development of advanced AI capabilities represents a clear risk to the United States’ national and economic security, and the administration’s willingness to trade away that security is extremely troubling,” the letter continued.
Sunny
Latest News Stories
Will County Closes Out $16.2 Million Federal Rental Assistance Program, Transitions to Local Funding
Executive Committee Advances Sweeping Overhaul of Will County Business Regulations
Will County Leaders Debate New Construction to Escape $1.2 Million in Leases
Meeting Summary and Briefs: Will County Planning and Zoning Commission for March 3, 2026
Peotone 207U Weighs School Consolidation, Long-Term Planning in Lengthy Committee Meeting
Meeting Summary and Briefs: Will County Finance Committee for March 3, 2026
Opioid Settlement Grants Funnel Nearly $600,000 to Local Police and Community Programs
Plainfield Central Offense Surges in 14-4 Victory Over Peotone Softball
Meeting Summary and Briefs: Will County Board Ad-Hoc Ordinance Review Committee for March 10, 2026
Peotone 207U Board Confronts Budget Pressures, Facility Needs at March 16 Meeting
Ad-Hoc Committee: Will County Sheriff’s Office to Acquire Decibel Meters for Noise Complaints
Crest Hill Homeowner Granted Side Yard Setback Variance for Accessible Addition
Will County Public Works Approves Access for 56-Acre Truck Services Hub on Manhattan-Monee Road
Committee Approves $317K Guardrail Maintenance Contract Amid Discussion on Installation Dangers
