'We need the smartest people': Nvidia, OpenAI CEOs react to Trump's H-1B visa fee

Jensen Huang, CEO of Nvidia, and Sam Altman, CEO of OpenAI, shared their insights regarding President Donald Trump's recent decision to significantly raise the fees associated with H-1B visa applications. Announced on Friday, the new fee is set at $100,000, prompting concerns among companies reliant on hiring international talent. Under the new regulations, employers must provide proof of payment before they can submit an H-1B petition for prospective employees, with applicants facing a 12-month restriction on their petitions until the fee is paid. In a conversation with CNBC’s Jon Fortt, both executives discussed the implications of this change. Huang emphasized the importance of attracting top talent to the United States, stating, "Immigration is the foundation of the American Dream. We want all the brightest minds to come to the U.S." He expressed optimism about the direction of immigration policies, suggesting that they are crucial for the future of both Nvidia and the nation. Altman echoed Huang's sentiments, highlighting the necessity of streamlining processes to bring skilled individuals into the country. "We need to get the smartest people in the country, and streamlining that process and also sort of outlining financial incentives seems good to me," he noted. The $100,000 fee represents a significant shift for the technology and finance industries, which heavily depend on the H-1B visa program to fill specialized roles often left vacant by the domestic workforce. Notably, applicants from India and China constituted a large portion of H-1B visa holders in the previous year, accounting for 71% and 11.7%, respectively. Importantly, those already holding H-1B visas and currently based outside the U.S. will not be subject to this new fee when re-entering the country. Employers have increasingly turned to H-1B workers to bridge the skills gap in various technical fields, underscoring the program's critical role in maintaining the nation's competitive edge in technology and innovation.