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Nvidia CEO Jensen Huang to Meet Former President Trump Ahead of China Visit

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Nvidia CEO Jensen Huang is scheduled to meet former U.S. President Donald Trump at the White House on Thursday, a day before Huang’s planned trip to China, according to a source familiar with the matter. The meeting takes place as Nvidia’s market valuation recently surpassed $4 trillion for the first time, underscoring the company’s position as one of Wall Street’s most valuable stocks.

Specific details about the agenda of the discussions have not been disclosed. Bloomberg was the first to report the meeting, while neither Nvidia nor the White House immediately responded to Reuters’ requests for comment.

Huang has previously criticized the export restrictions imposed by the Trump administration in April, which halted Nvidia’s ability to sell its H20 AI chip to China—a product Huang described as a “springboard to global success.” These U.S. export curbs resulted in a $2.5 billion loss in sales for Nvidia in the first quarter, with the company forecasting an $8 billion revenue impact in the second quarter.

Due to these stringent trade restrictions, Huang announced in June that Nvidia would exclude China from its revenue and profit projections going forward.

Huawei Targets AI Chip Sales in Middle East and Southeast Asia Amid U.S. Competition

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Huawei Technologies is seeking to expand its AI chip footprint by attempting to export small quantities of its Ascend 910B AI chips to markets in the Middle East and Southeast Asia, according to a Bloomberg News report on Thursday. The Chinese telecommunications giant is reaching out to potential customers in the United Arab Emirates, Saudi Arabia, and Thailand as it aims to challenge the dominance of U.S. chip leader Nvidia in these regions.

Sources familiar with the matter told Bloomberg that Huawei is offering the older-generation Ascend 910B chips in the low thousands, although no deals have been finalized so far. Interest from parties in the UAE appears limited, while the status of discussions in Thailand remains unclear. Neither the Thai government nor Saudi Arabia’s media office responded to requests for comment, and Huawei did not immediately reply to Reuters’ inquiry.

In addition to the Ascend 910B, Huawei is promoting CloudMatrix 384, a China-based AI system powered by more advanced chips. However, due to supply constraints, the company is currently unable to export this system. The Middle East is becoming a hot market for AI chips, with several U.S. firms such as Nvidia announcing significant deals. Earlier this year, former U.S. President Donald Trump secured $600 billion in commitments for U.S. companies from Saudi Arabia during a regional tour.

Huawei is also focusing on selling its more advanced AI chip, the 910C, to Chinese customers who face restrictions accessing top-tier American chip technology. U.S. administrations have imposed export controls to limit China’s access to advanced semiconductor technologies, citing national security concerns related to military applications.

An Nvidia spokesperson noted that “With the current export controls, we are effectively out of the China datacenter market, which is now served only by competitors such as Huawei,” highlighting the competitive dynamics shaped by these restrictions.

AI chip startup Groq targets $6 billion valuation in new funding round amid Saudi deal

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U.S.-based semiconductor startup Groq is in talks with investors to raise between $300 million and $500 million, aiming for a post-investment valuation of $6 billion, according to a report by The Information on Wednesday citing sources familiar with the matter.

The funding is intended to support Groq’s recently announced agreement with Saudi Arabia, which includes a $1.5 billion commitment secured in February to expand the delivery of Groq’s advanced AI chips to the kingdom.

Groq has indicated to investors that these contracts with Saudi Arabia could generate approximately $500 million in revenue in 2025, underscoring the significance of the deal in its growth trajectory.

The Silicon Valley-based company, known for manufacturing AI inference chips designed to optimize speed and efficiently execute commands from pre-trained models, has not yet responded to requests for comment.

In its previous financing round last August, Groq raised $640 million in a Series D round led by Cisco Investments, Samsung Catalyst Fund, and BlackRock Private Equity Partners, which valued the company at $2.8 billion.