Topline
Shares of top U.S. chipmakers fell after trading opened Tuesday, after President Donald Trump said he would allow the export of previously restricted advanced AI chips to China and other countries as the U.S. government will receive a 25% cut of the sales.
President Donald Trump said Nvidia will be allowed to export its advanced H200 AI chips to China.
SOPA Images/LightRocket via Getty Images
Key Facts
Shares of Nvidia fell about 0.4% to around $184.60 shortly after market open Tuesday morning, following a 1.7% jump on Monday and an earlier rise in premarket trading.
A decline for Nvidia’s shares follows Trump’s announcement, which mentioned Nvidia’s H200, the company’s second-most advanced AI chip whose exports were restricted by the Biden administration.
Trump said the eased restrictions would also apply to AMD, Intel and “other GREAT American Companies.”
AMD’s shares dropped 0.7% to around $219.50, while Intel’s stock rose about 0.3%.
News Peg
The president made the announcement on his Truth Social platform, saying he had “informed President Xi, of China, that the United States will allow NVIDIA to ship its H200 products to approved customers in China, and other Countries, under conditions that allow for continued strong National Security.” Trump’s post did not offer any specifics about these National Security-related conditions, however, the president said Xi has responded “positively!” The president added that “The Department of Commerce is finalizing the details, and the same approach will apply to AMD, Intel, and other GREAT American Companies.”