This is the kind of mutualistic relationship that has formed between President Donald Trump and Jensen Huang, the chief executive officer of Nvidia, the world’s biggest company by market capitalization responsible for more than 90 percent of the market for chips needed to build AI systems.
Last week, Nvidia was reportedly still haggling with the U.S. government over the details of its recent deal to sell its H200 artificial intelligence chips to China, with the Trump administration taking a 25 percent cut of all revenues and sales. While it’s still unclear whether China will actually agree to buy the chips, the tenuous deal was still a major victory for Huang, who has spent months cozying up to Trump.
“He started our conversation with, ‘Jensen, this is Secretary Lutnick,” Huang recounted during an interview on Joe Rogan’s podcast in December. “‘I just want to let you know that you’re a national treasure. Nvidia is a national treasure. And whenever you need access to the president, the administration, you call us.’”
The Trump administration had warned Nvidia earlier in April that it planned to stop the sale of AI chips to China. Huang’s Mar-a-Lago invitation was so he could make a last-ditch appeal to prevent his company from being locked out of the second-largest computing market in the world, The New York Times reported.
In May, Huang joined Trump in the Middle East, where the president announced a chip deal with Saudi Arabia that caused Huang’s net worth to surge by $12 billion in a single day. During that trip, Trump demonstrated how he could use Nvidia to make himself rich, too. The president announced that he would reverse policy in order to permit the United Arab Emirates to import 500,000 of Nvidia’s most advanced AI chips every year. In return, Trump’s World Liberty Financial pocketed $2 billion from a UAE-backed investment firm.
“I come with only one purpose,” Huang told reporters at Nvidia’s inaugural tech conference in Washington, D.C., that same month. “To inform and to be in service of the president as he thinks about how to make America great.”
Huang also confirmed that Nvidia would be one of the 37 major companies to donate to the construction of Trump’s $400 million White House ballroom, NOTUS reported. “I’m incredibly proud and delighted to help contribute in a small way to what will clearly be a historic and national monument for our country,” Huang said.
“If this didn’t happen, we could’ve been in a bad situation, and I want to thank President Trump for that,” Huang said. He then announced that Nvidia would embark on a project to build seven AI supercomputers with the Department of Energy.
Trump wasn’t there to hear it in person. But days later, while speaking in front of world leaders at the Asia Pacific Economic Cooperation (APEC) meeting in South Korea, Trump lauded Huang as an “incredible guy.”
Trump had previously credited Huang as being one of the “great people” who’d convinced the president not to deploy the National Guard to San Francisco, as part of Trump’s federal takeover of American cities.
Also in December, the president approved the sale of Nvidia’s second-most powerful AI chip to China. “He’s done an amazing job,” Trump said of Huang at the time, praising the CEO as a “smart man.”
To be sure, Trump’s fondness for a tech billionaire and Huang’s spineless sycophancy don’t come as a surprise. But the only thing Trump values more than money is power, and if he can use his ever-vacillating trade “deals” to control other countries, he will. And while Trump’s policies may be fluid, manufacturing is not.
While cozying up to Trump may have put Huang in the room with world leaders who could make him millions, a snap of Trump’s fingers can make those deals disappear just as easily. In September, Nvidia pledged to play a major part of Britain’s Tech Prosperity Deal, but just last month, the Trump administration put the deal on hold, hoping to squeeze more out of the Brits.
So, maybe the relationship between tech oligarch and authoritarian ruler is more akin to another unlikely animal friendship. While Huang may seem happy in the mud for now, he’s still at the mercy of Trump, who has repeatedly demonstrated that he is not a tarantula at all. Rather, he’s a fickle scorpion riding on a frog’s back, liable to sting at any time, surely drowning them both.
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