Trump said Nvidia’s most advanced AI chips will not be sold to China, a few days after he signaled he would be willing to discuss export controls on them with Xi Jinping.

Nvidia CEO Jensen Huang warns that China may surpass the U.S. in the AI race, highlighting the strategic need to engage Chinese developers despite geopolitical tensions. Nvidia faces export challenges due to U.

The president decided against discussing the matter with Chinese leader Xi Jinping after top aides opposed it.

One of the biggest gainers this year is former computer science researcher Chen Tianshi, whose wealth nearly tripled to $21 billion on skyrocketing shares of his Shanghai-listed AI chipmaker Cambricon Technologies.

The Chinese government has issued guidance requiring new data centre projects that have received any state funds to only use domestically-made artificial intelligence chips, two sources familiar with the matter told Reuters.

China's subsidies for data centers lead to drop in AI chip stocks like Nvidia, Broadcom, Marvell, AMD, TSMC, Micron, Arm, Intel. Alibaba's reliance on Nvidia drops by 82%.

Amid skyrocketing demand for artificial intelligence systems, the chip-making giant has been thrust into the economic feud between Beijing and Washington.

Stocks to Buy and Sell. NVIDIA Corp (NASDAQ:NVDA) is one of the top analyst calls. Patrick Moorhead of Moor Insights & Strategy commented on the China-related selloff after President Trump’s tariff announcements earlier in October.