Shares in chipmaking giant Nvidia (NVDA) rose by over 2% on Thursday afternoon. This followed media reports that its CEO, Jensen Huang, will be one of America’s top business leaders who will accompany President Donald Trump on his visit next week to China.
Claim 55% Off TipRanks
Trade NVDA with leverageTrump is set to meet with Chinese President Xi Jinping in Beijing on May 14 and 15, with the summit expected to cover, among other things, contentious trade relations in areas such as tech and rare earth elements. The rise in Nvidia’s shares comes days after Huang reemphasized that the chipmaker now holds zero share of China’s AI graphics processing unit market due to years of U.S. curbs on the export of its advanced technologies.
Nvidia is racing to hit at least $1 trillion in revenue in 2027, and good access to important AI markets, such as China’s, is a big advantage.