Trump Says Nvidia Blackwell Chip Sales to China Not Discussed With Xi

US President Donald Trump said his recent conversation with Chinese President Xi Jinping did not include any discussion about allowing Nvidia to sell its advanced Blackwell AI chips to China. His remarks ended days of speculation that the US might relax export restrictions on the company’s most powerful semiconductors.

Speaking to reporters aboard Air Force One, Trump confirmed that the two leaders “did discuss chips” but stressed that “we’re not talking about the Blackwell.” He added that Beijing and Nvidia would “keep talking” about access to less-advanced processors already cleared for sale.

U.S. Export Rules Still Intact Despite Trump-Xi Chip Talks

Trump’s clarification followed comments a day earlier suggesting he would review Nvidia’s product access to China. That earlier remark triggered a brief rally in chip stocks and pushed Nvidia’s market value past $5 trillion for the first time.

Investors had taken it as a sign that Washington might approve downgraded versions of Blackwell chips for Chinese buyers — a reversal of restrictions imposed in 2022 to limit China’s access to advanced AI hardware.

The Blackwell series, unveiled earlier this year, delivers several times the computing power of Nvidia’s current export-approved H20 chips. US officials have blocked sales of the top-end versions over fears they could enhance China’s military or surveillance capabilities.

Beijing Blocks Use of U.S.-Approved Nvidia Chips

Even where Washington has allowed exports, Beijing has discouraged state-linked firms and research labs from using Nvidia’s processors. Authorities have instead urged the adoption of domestic chips made by companies such as Huawei Technologies, citing data-security concerns.

“The president has licensed us to ship to China, but China has blocked us from being able to ship to China,” Nvidia Chief Executive Jensen Huang said this week in Washington. “They’ve made it very clear they don’t want Nvidia to be there right now.”

Unclear Framework for Future Sales

The Trump administration has approved limited exports of Nvidia’s H20 processors but has not disclosed shipment volumes or future licensing plans. Nvidia wrote down billions of dollars in expected revenue after earlier curbs and has since removed China from its official sales forecasts.

Trump has also proposed an unusual plan for the US government to take a 15 percent cut from Nvidia’s China revenue — a move without an established legal structure. “We’re sort of the referee,” he said of the talks with Xi. “But that’s really between China and Nvidia.”

Blackwell’s Future Still Unsettled

Trump previously said he might allow Nvidia to sell a reduced-performance version of the Blackwell chip, “30 to 50 percent slower” than the domestic model. Nvidia has not filed any export requests for such a product, and no technical details have been finalized.

The company argues that limited exports could help preserve US influence in global chip standards by keeping Chinese firms dependent on American systems. National-security officials, however, remain divided, with some warning that even downgraded Blackwell models could strengthen China’s AI sector.

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