U.S. President Donald Trump met with Nvidia CEO Jensen Huang at the White House on Friday to discuss tightening AI chip exports and the rise of DeepSeek, a Chinese company whose AI model has shaken the global tech industry, a source familiar with the matter said.
While Trump did not disclose specific details of the meeting, he described Huang as a “gentleman” and called the discussion “a good meeting.” An Nvidia spokesperson later confirmed the conversation focused on AI policy and strengthening U.S. technological leadership.
The meeting comes as the U.S. government prepares to further restrict AI chip exports this spring, aiming to keep advanced computing power within the U.S. and its allies while limiting China’s access. According to the source, Trump believes DeepSeek’s emergence could mean U.S. companies may not need to invest heavily in developing low-cost AI alternatives.
DeepSeek’s Disruptive Rise and Impact on U.S. Markets
DeepSeek recently launched a low-cost AI assistant, which quickly became the most downloaded app on Apple’s App Store. The company claims its model uses less data and operates at a fraction of the cost of U.S. AI models, raising concerns about China’s progress in AI. The launch triggered a sell-off in U.S. tech stocks, wiping out nearly $1 trillion in market value, with Nvidia’s shares dropping 17% at one point.
U.S. Moves to Tighten Nvidia’s AI Chip Exports to China
As concerns grow over China’s AI advancements, the Trump administration is considering stricter curbs on Nvidia’s H20 AI chips, which were designed for the Chinese market to comply with existing U.S. export restrictions. According to sources, discussions on restricting H20 shipments are still in early stages but have been under consideration since Joe Biden’s presidency.
Previously, the Biden administration banned exports of Nvidia’s H100 AI chips to China in 2022, leading Nvidia to create the H800 variant, which was later restricted in 2023. The company then introduced the H20 model in 2024, now facing potential new restrictions.
Additionally, U.S. lawmakers John Moolenaar and Raja Krishnamoorthi have urged the administration to impose further restrictions on AI chip exports, as part of a broader review of U.S. export controls.
Meanwhile, the U.S. Commerce Department is investigating whether DeepSeek has used banned U.S. chips in its AI models, raising further national security concerns.
With China rapidly advancing in AI, the U.S. is facing growing pressure to secure its leadership in artificial intelligence while preventing key technologies from falling into the hands of strategic competitors.
