Trump Xi Meeting Skips Nvidia Blackwell Chip Discussion Amid Export Restrictions

In recent talks between U.S. President Donald Trump and Chinese President Xi Jinping in South Korea, the topic of Nvidia's advanced Blackwell AI chips was notably not discussed, despite earlier indications that semiconductors would be part of the conversation. Trump clarified that while general semiconductor issues were addressed and China is expected to engage with Nvidia and other chipmakers, the Blackwell chip itself was not a subject of discussion. Nvidia's shares declined nearly 2% following the meeting, reflecting market concerns about ongoing U.S.-China tensions and export restrictions on advanced AI technology. Nvidia CEO Jensen Huang has emphasized the importance of the Chinese market for AI research and warned that losing access could hamper U.S. innovation, although Beijing currently favors domestic firms like Huawei over Nvidia. Nvidia's forthcoming earnings report will be closely watched for insights into its performance in China, with long-term orders for Blackwell and Rubin chips projected to exceed $500 billion by 2026. The situation underscores the complex geopolitical challenges impacting the global AI semiconductor market and U.S.-China technology relations.