Trump to host Jensen Huang at White House as Nvidia tops $4 trillion market cap

Nvidia CEO Jensen Huang is set to meet with former President Donald Trump at the White House on Thursday, as reported by CNBC's Megan Cassella. This meeting coincides with Nvidia's remarkable achievement of surpassing a $4 trillion market capitalization, marking it as the first company to reach this significant milestone, outpacing tech giants Apple and Microsoft. On Thursday, Nvidia's stock saw a slight increase, bringing it to this historic valuation. Earlier this week, the company briefly touched this market cap during trading sessions. In a social media post, Trump lauded Nvidia's stock performance, stating, "NVIDIA IS UP 47% SINCE TRUMP TARIFFS. USA is taking in Hundreds of Billions of Dollars in Tariffs. COUNTRY IS NOW 'BACK.'" An Nvidia spokesperson refrained from commenting on the specifics of the meeting. However, it is known that Nvidia has been navigating challenges related to export controls imposed on its artificial intelligence chips by the Trump administration last April, citing national security concerns. The government indicated that Nvidia would need an export license for its previously approved H20 processor, which was meant solely for the Chinese market. Huang has previously informed investors that this requirement effectively barred Nvidia from selling to China, stating there would be "no grace period." As a result, Nvidia anticipates missing out on approximately $8 billion in planned orders for the chip during the July quarter. Huang highlighted that the $50 billion market in China is essentially closed to U.S. industries. Additionally, Nvidia is facing potential further limitations on AI chip exports following the Trump administration's decision to revoke a planned rule by former President Joe Biden, known as the "AI diffusion rule." The Trump administration has pledged to introduce new, more straightforward restrictions regarding the countries eligible to receive Nvidia's technology later this year.