President Trump, while speaking in a press conference from the White House, confirmed that Nvidia (NVDA) has agreed to pay 15% of its H20 chip sales to China to the U.S. under a new pact that will allow for the export of older generation AI chips. President Trump said that Nvidia CEO Jensen Huang negotiated down to 15% from the 20% the president requested to secure the export licenses. Trump added that the H20 is “obsolete, but it still has a market” and said he would not make a deal for export to China of Nvidia’s latest generation AI chip.
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