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“The H20 is obsolete,” Trump said.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.
Chance Showers And Thunderstorms then Showers And Thunderstorms Likely
Latest News Stories
U.S. Supreme Court declines to hear Washington COVID-19 speech case
‘Project Freedom’ begins, two ships safely transit Strait of Hormuz
Supreme Court declines hearing Chicago gun sales case
Illinois Quick Hits: Google settlement wins praise from Illinois AG
Illinois diversity commission says businesses aren’t cooperating
U.S. House, Senate, governor on Ohio primary ballots Tuesday
Late Seventh-Inning Rally Lifts Casey-Westfield Baseball Over GCMS, 11-9
Westville Baseball Rallies for Dramatic 5-3 Extra-Inning Walk-Off Over Casey-Westfield
Offense Erupts, Bonds Shines as Casey-Westfield Dominates Seeger 15-3
Illinois lawmaker warns medical records bill could delay care
‘Farm Bill’ may ease cost burden for farmers; Ag groups urge US Senate action
Indiana voters to decide compeititive congressional primary races Tuesday
U.S. debt tops 100% of GDP, ‘deeply troubling’ for economy, national security
