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“The H20 is obsolete,” Trump said.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.
Slight Chance Showers And Thunderstorms then Chance Showers And Thunderstorms
Latest News Stories
Executive Committee Advances Dissolution of Southeast Joliet Sanitary District
Meeting Summary and Briefs: Will County Board Legislative Committee for January 6, 2026
Meeting Summary and Briefs: Capital Improvements & IT Committee for January 6, 2026
Public Works Committee: $18.8 Million Contract Awarded for Lorenzo Road Bridge Over BNSF Railway
Meeting Summary and Briefs: Will County Board Public Health & Safety Committee for January 7, 2026
Executive Committee: Relaxes Rules for Retiring Employee Proclamations
Lobbyist Updates: State Session Resumes; Transit Safety Concerns Raised
Meeting Summary and Briefs: Will County Board Finance Committee for January 6, 2026
Capital Imp Committee: Facilities Director Reports on VAC Progress and Critical Health Department Elevator Repairs
‘Good Food For All’ Initiative Proposes Local Agricultural Asset Mapping for Will County
Public Works Committee Advances $3.2 Million Engineering Contract for Mills Road Reconstruction
Board Members Debate “Commitment to Truth” in Media Resolution
Executive Committee: Speaker VanDuyne and Member Butler Clash Over Removal of Committee Chair
Finance Committee: County Appropriates Fees from $25 Million Wilmington Warehouse Project
