Trump confirms Nvidia chip agreement
Nvidia will pay the United States 15% of the money it makes from selling artificial intelligence chips to China, President Donald Trump said in a press conference on Monday.
Trump said he allowed Nvidia CEO Jensen Huang to sell H20 chips to China while the company provides the U.S. government with a kickback of the profits.
“The H20 is obsolete,” Trump said. “So we negotiate a little deal so he’s, essentially, selling an old chip,” Trump added, referring to Huang.
Trump said he initially asked for a 20% cut from sales of Nvidia’s chips but the two landed on 15%.
In April, Trump banned Nvidia from selling H20 chips to China. The administration later reversed the ban in July.
A coalition of democratic lawmakers, including Sen. Chuck Schumer, D-N.Y., criticized the administration’s July reversal.
“Limiting the PRC’s access to advanced compute has been a focus of Congress: one with a strong bipartisan commitment across both chambers and both parties,” The letter read.
“The PRC’s development of advanced AI capabilities represents a clear risk to the United States’ national and economic security, and the administration’s willingness to trade away that security is extremely troubling,” the letter continued.
Chance Showers And Thunderstorms
Latest News Stories
Executive Committee: Tension Rises as Republican Whip Removed from Panel
Ad-Hoc Committee: County Stripped of Power to Regulate Motor Races, Must Drop Solicitor Fees Due to State Statutes
Commission Overrides Staff Recommendation, Approves Manhattan Township Barn Expansion
Manhattan-Elwood Library Board Approves Over $21,000 for Playroom Renovation and Picture Book Shelving
Meeting Summary and Briefs: Manhattan Township for January 13, 2026
Jackson Township Board Approves Elwood Baseball Donation, Reviews Food Pantry Transition
Meeting Summary and Briefs: Village of Manhattan Board for February 17, 2026
Executive Committee Advances “Project Northwinds”: 2,475 Jobs and $346 Million Investment Proposed for Former Caterpillar, Lion Electric Sites
Land Use Committee Advances Mokena Scrap Yard and Homer Glen Landscape Business Over Local Objections
Manhattan School District 114 Honors Staff and First Responders Following Tragic Bus Accident
District 210 Reports Insurance Deficit Amid National Healthcare Cost Spikes; Finances Remain Stable
Planning Commission Backs 5-MW Peotone Solar Farm; Developer Pledges Pollinator Habitat and Community Funds
Joliet Junior College Board Approves $2 Tuition Increase Amidst Heated Debate Over Enrollment and Spending