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Nvidia CEO Jensen Huang (left) and President Donald Trump (right)Key Takeaways
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The White House has paused plans to curb sales of Nvidia H20 chips to Chinese firms, NPR reported Wednesday.
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The development comes after CEO Jensen Huang attended a dinner at Mar-a-Lago last week, where President Trump made an appearance, according to the report.
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The H20 chip is less powerful than Nvidia's latest tech, and is tailored to meet existing export restrictions.
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Nvidia shares surged amid a broader market rally Wednesday after Trump announced a 90-day pause on most of the tariffs his administration announced last week.
The Trump administration has paused plans to tighten restrictions on sales of Nvidia's (NVDA) H20 chip to companies in China, NPR reported Wednesday.
The H20 is less powerful than Nvidia’s latest chips and is tailored to meet existing U.S. export restrictions. The White House had been considering curbing Nvidia’s ability to sell the chip in China, but those plans were put on hold after CEO Jensen Huang attended a dinner at Mar-a-Lago last week, where President Trump made an appearance, according to the report.
Nvidia declined to remark on the report, while the Commerce Department did not immediately respond to a request for comment.
Nvidia shares soared over 18% Wednesday amid a broader market rally after Trump announced a 90-day pause on most of the tariffs his administration announced last week. In a Truth Social post, Trump said he felt the pause was needed because "more than 75 countries" had contacted his administration to make trade deals. The pause excluded China, which is instead facing a higher rate as tariffs on goods from the country increase to 125%. (Read Investopedia's live coverage of today's market action here.)
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