Nvidia's Huang joining Trump on UK state visit next week

Jensen Huang, the CEO of Nvidia, is set to accompany President Donald Trump on an upcoming state visit to the United Kingdom, as reported by CNBC's Kristina Partsinevelos. A source familiar with the arrangements, who requested anonymity, confirmed the plans, which also include other prominent U.S. business leaders such as OpenAI's Sam Altman, Blackstone CEO Steven Schwarzman, and BlackRock CEO Larry Fink. Apple CEO Tim Cook was also invited to the prestigious event. The group is anticipated to attend a state banquet hosted by King Charles during their visit next week. Huang's involvement comes on the heels of his absence from a recent White House dinner for tech executives, underscoring Nvidia's strategic focus on maintaining a positive rapport with the Trump administration. Currently, Nvidia is pursuing new licenses to sell its latest Blackwell chips in China, amid uncertainties regarding its access to this critical market. Over the past year, Huang has cultivated a close relationship with Trump, emphasizing the importance of U.S. manufacturing and the potential benefits of exporting Nvidia's chips to China for national security. Huang has argued that such exports would help the U.S. maintain its leadership in the AI sector. In previous discussions, Trump has acknowledged Nvidia's technological advancements, celebrating the company's significant market capitalization surpassing $4 trillion. Earlier this year, Nvidia faced restrictions on its access to the Chinese market due to export controls implemented by the Trump administration. To navigate these challenges, Huang met with Trump multiple times over the summer, successfully obtaining export waivers for its AI chip, the H20. Trump negotiated a 15% share of the sales from these chips with Huang, though Nvidia stated that the specifics of this agreement are still pending. Huang's collaboration with Trump extends beyond the U.K. trip; he also joined the president in Saudi Arabia for an investment forum in May. Unfortunately, Nvidia has had to abandon plans for H20 chips that could have generated up to $8 billion in sales in a single quarter. Looking ahead, the company estimates that geopolitical factors will influence its ability to sell approximately $5 billion worth of H20 chips this quarter. Huang recently expressed to investors that there is a "real possibility" of receiving approval for selling newer chips to China, highlighting Nvidia's ongoing commitment to navigating the complex landscape of international trade.