Nvidia CEO Jensen Huang meets with Donald Trump on AI

Nvidia confirmed that its CEO Jensen Huang met with U.S. President Donald Trump to debate U.S. expertise and AI management.

“We appreciated the chance to satisfy with President Trump and talk about semiconductors and AI coverage. Jensen and the president mentioned the significance of strengthening U.S. expertise and AI management,” mentioned an Nvidia spokesperson.

The assembly passed off as we speak and it coincidentally is occurring a day earlier than Trump promised to impose a bunch of tariffs on merchandise together with semiconductor chips.

Earlier this week, Trump known as for tariffs on international pc chips, semiconductors, and prescription drugs from locations like Taiwan within the close to future.

Within the speech on the Home GOP Points Convention in Miami, Trump mentioned that producers additionally don’t want an incentive to construct their chip factories within the U.S. He urged he would take away Joe Biden’s program of paying subsidies to chip makers like Intel to construct within the U.S.

The affect of such tariffs might be big. The Shopper Expertise Affiliation, the lobbying group for the U.S. electronics {industry}, warned that tariffs might take the price of recreation consoles from the lots of of {dollars} to $1,000.

“Within the very close to future, we’re going to be putting tariffs on international productions of pc chips, semiconductors and prescription drugs to return manufacturing of those important items to the US of America,” Trump mentioned. “They left us and so they went to Taiwan, which is about 98% of the chip enterprise, by the best way. And we wish them to return again and we received’t to present them billions of {dollars} like this ridiculous program that Biden has.”

The bipartisan-supported Chips & Science Act earmarked $52 billion in subsidies to allow firms to construct factories within the U.S. Intel, TSMC, Coherent and Analog Units had been among the many firms receiving grants from the Biden administration.

”Give everyone billions of {dollars}. They have already got billions of {dollars}. They’ve obtained nothing however cash Joe. They didn’t want cash,” Trump mentioned. “They wanted an incentive. And the motivation goes to be they aren’t going to need to pay a 25, 50 and even 100% tax. They will construct the manufacturing unit with their very own cash. We don’t have to present them cash. They will are available in as a result of it’s good for them to return in. You give them cash and so they don’t know what to do with it.”

Due to incentives fairly than tariffs, the SIA mentioned this month that the Chips and Science Act is on observe to strengthen American manufacturing, create jobs, enhance financial development, and promote nationwide safety. The act’s manufacturing incentives have sparked substantial introduced investments within the U.S., the group mentioned. Intel mentioned this week it has obtained greater than $2 billion below the act.

“In actual fact, firms within the semiconductor ecosystem have introduced 90 new projects throughout 28 U.S. states—totaling lots of of billions of {dollars} in personal investments—because the Chips and Science Act was launched. These introduced tasks will create greater than 58,000 jobs within the semiconductor ecosystem and help lots of of hundreds of extra U.S. jobs all through the U.S. economic system.

An SIA-Boston Consulting Group report released final Could projected the US will triple its home semiconductor manufacturing capability from 2022—when the act was enacted—to 2032. The projected 203% development is the biggest projected p.c improve on the earth over that point. The report additionally projected America will seize over one-quarter (28%) of complete world capital expenditures from 2024 to 2032.

The Shopper Expertise Affiliation mentioned throughout CES 2025 that the proposed tariffs might improve costs on laptops and tablets by 46%, recreation consoles by 40%, and smartphones by 26%.