Big Tech 2 min read

Trump Will Discuss Nvidia Export Controls With Xi As Market Cap Nears $5 Trillion

Source: Forbes Magazine:::

Updated 6 hr ago

Trump Will Discuss Nvidia Export Controls With Xi As Market Cap Nears $5 Trillion / Forbes.com

Topline

Nvidia shares rose more than 3.5% in premarket early on Wednesday—edging the AI chipmaker towards a $5 billion market cap—after President Donald Trump said he will discuss export controls on the company’s advanced Blackwell chips with his Chinese counterpart Xi Jinping when the two leaders meet on Thursday, in a bid to ease trade tensions between the world’s two largest economies.

US-TRUMP-POLITICS-ECONOMY — Nvidia CEO Jensen Huang speaks alongside President Donald Trump about investing in America, at the White House in Washington D.C. AFP via Getty Images

Key Facts

Nvidia’s shares rose 3.6% to $$208.22 in premarket trading on Wednesday morning, continuing a rally from the previous day, when the stock closed nearly 5% up.

If the stock surge holds when markets open on Wednesday, Nvidia could become the first-ever company to hit a $5 trillion market cap.

The AI chipmaker’s market cap stood just below $4.9 trillion when markets closed on Tuesday.

What Did Trump Say About Nvidia And China?

While speaking to reporters on board Air Force One on Wednesday, Trump was asked if he had reached an agreement with Xi to potentially allow the export of Nvidia’s flagship Blackwell chips—which are currently subject to export controls—to China as part of a trade deal. The president said, “We’ll be speaking about Blackwells” as he praised the Nvidia chip, calling it “super duper.” Trump said Nvidia CEO Jensen Huang was “amazing” and added that the Blackwell chips are “probably 10 years ahead of any other chip.”