Nvidia (NVDA) CEO Jensen Huang will not travel to Beijing as part of a business delegation accompanying U.S. President Donald Trump on his trip to China this week.
Claim 55% Off TipRanks
Forget margin or options. Here's how the pros trade NVDAAccording to multiple media reports, Huang was not invited to join the presidential delegation to China. There had been chatter online that the Nvidia CEO would travel to Beijing with Trump. The snub comes with Nvidia effectively clocked from selling its microchips and processors in China.
In a statement, the White House said that it is concentrating on agriculture and commercial aviation issues during the current trip to China, including potential orders for Boeing (BA) aircraft. However, other prominent technology leaders and high-profile CEOs have been invited on the China trip with Trump.
The Stakes for Nvidia in China
Leading CEOs joining Trump’s China delegation include Tesla (TSLA) CEO Elon Musk, Goldman Sachs’ (GS) CEO David Solomon, and BlackRock (BLK) CEO Larry Fink. The China trip is expected to focus primarily on trade issues between the world’s two largest economies.
Nvidia has seen shipments of its microchips and processors to China slow to a trickle as the U.S. and China battle for supremacy in artificial intelligence (A.I.). Lawmakers in Washington, D.C. have banned exports of Nvidia chips to China on national security grounds. At the same time, China has encouraged domestic companies to avoid using Nvidia products.
There had been hope that Jensen Huang joining the Trump delegation could lead to a breakthrough that would see Nvidia begin to sell again in China, the world’s second largest economy.