Nvidia CEO Huang Skips Trump's Inauguration for Asia Trip
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Nvidia CEO Jensen Huang will not attend President-elect Donald Trump's inauguration, instead choosing to celebrate Lunar New Year with employees and their families, Reuters reports.
Huang, speaking to reporters outside Nvidia's New Year's party in Taipei, stated that he has not yet spoken with the incoming Trump administration regarding the new artificial intelligence export control rules unveiled by the outgoing Biden administration.
"But I'll look forward to congratulating the Trump administration when they take office," Huang said. He also revealed a recent meeting with C.C. Wei, chairman of Nvidia's primary supplier TSMC, to discuss ramping up production of Nvidia's most advanced AI chips, Blackwell.
Nvidia's rapid growth, driven by soaring demand for chips, has propelled the company into the ranks of the world's most valuable, exceeding a market capitalization of $3 trillion. However, the new US government export restrictions on AI chips may complicate Nvidia's ability to sustain the robust revenue growth that investors anticipate.
The regulations, announced by the Biden administration on January 13, limit AI chip exports to most countries except for a select group of close US allies, including Taiwan. The restrictions also maintain a block on exports to certain countries, such as China, as the US seeks to prevent Beijing from acquiring advanced chips that could enhance its military capabilities.
On Monday, Nvidia criticized Washington's latest effort to tighten its grip on AI chip flows globally, arguing that the regulation would jeopardize current US leadership in AI. While it remains unclear how the Trump administration will enforce the new rules, both sides share similar views on the competitive threat posed by China. The new regulations are set to take effect 120 days from publication, providing the new administration time to weigh in.
Huang attended a Nvidia New Year's party in Shenzhen on Wednesday, according to Chinese social media posts. He is expected to visit Beijing on Monday for the company's party there, a source close to Nvidia revealed. Nvidia did not immediately respond to a request for comment.