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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.

China’s CXMT Corp Begins IPO Preparation Amid Push to Expand DRAM Chip Business

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CXMT Corporation, the parent company of Chinese DRAM chipmaker ChangXin Memory Technologies, has started the initial preparations for an initial public offering (IPO), according to a document released by China’s securities regulator.

Summary:

  • IPO Preparation:
    CXMT has entered the “counselling process” for an IPO, having hired state-owned investment banks China International Capital Corporation and CSC Financial to assist. However, details on the timing or location of the IPO remain undisclosed.

  • Company Profile:
    CXMT is a major player in China’s drive to develop a domestic dynamic random-access memory (DRAM) chip industry, a sector historically dominated by firms from the U.S., Japan, and South Korea. Founded in 2016 with state backing, CXMT oversees subsidiaries including ChangXin Memory Technologies.

  • Production Facilities:
    The company operates two semiconductor foundries in China—one in Hefei, Anhui Province, and a newer facility in Beijing, with production ramping up since September 2023. Monthly production capacity is estimated at around 200,000 12-inch wafers.

  • Regulatory Challenges:
    CXMT narrowly avoided being added to the U.S. Entity List in May but remains subject to U.S. export restrictions from October 2022, which limit China’s ability to manufacture advanced DRAM chips.

  • No Further Details:
    The document did not specify which assets will be part of the IPO or whether the CXMT subsidiary itself will be listed. The company did not immediately respond to requests for comment.

China Urges Cautious but Rapid Development of Assisted-Driving Technology

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China’s automakers are rapidly advancing assisted-driving technology, eager to capture a growing market. However, Beijing is pushing for a balanced approach—accelerate innovation but ensure safety and accountability.

Key Points:

  • Rapid Innovation, Careful Oversight: Chinese regulators are finalizing new safety rules for driver-assistance systems following a fatal crash involving a Xiaomi SU7 sedan in March, which killed three occupants shortly after the driver resumed control from the system.

  • Regulatory Approach:

    • China bans terms like “smart” and “autonomous” in marketing to avoid overselling capabilities.

    • Current rules allow automatic steering, braking, and acceleration only with driver engagement.

    • New regulations will require hardware/software to monitor driver alertness and control readiness.

  • Collaboration and Public Input:

    • Regulators worked with Dongfeng and Huawei to draft rules, with public consultation ending recently.

    • Plans to resume Level 3 validation tests this year after being paused post-Xiaomi crash; the first Level 3 vehicle approval expected in 2026.

  • Level 3 Ambitions:

    • Level 3 allows drivers to take eyes off the road under certain conditions—midway between basic driver-assist and full autonomy.

    • China has promoted Level 3 tests and aims to be a global leader in assisted-driving tech.

  • Industry Competition:

    • China’s automakers like BYD and Zeekr are aggressively pushing Level 2 and Level 3 tech, often offering features at low or no additional cost.

    • At the Shanghai auto show, Huawei and Geely’s Zeekr highlighted Level 3 readiness.

    • Traditional foreign automakers like Mercedes-Benz and Volkswagen focus on advanced driver-assist features but hold back on Level 3 due to higher costs and liability concerns.

  • Safety and Liability:

    • New regulations hold manufacturers and suppliers liable for accidents caused by system failures, similar to recent UK legislation.

  • Strategic Context:

    • China is using this push to support its domestic auto industry, much like its earlier backing of electric vehicles.

    • Over 60% of new cars sold in China this year are estimated to include Level 2 driver-assist features.

Expert Insights:

Markus Muessig of Accenture Greater China notes that China’s “feel the stones to cross the river” approach—steady, cautious exploration of new tech—has been effective. Meanwhile, Mercedes-Benz’s CTO Markus Schaefer highlights the ongoing challenges with balancing cost and safety requirements for Level 3 systems.