This article first appeared on GuruFocus.
U.S. President Donald Trump’s latest swing through Washington injected a fresh jolt into the AI trade after he sat down with Nvidia (NASDAQ:NVDA) CEO Jensen Huang and hinted that the executive possibly already understands where the administration stands on export controls. The timing matters: regulators are still weighing whether Nvidia could sell its H200 chips to China, a generation behind its current flagship hardware. Nvidia did not comment, but the meeting adds a new layer to a debate that could be pivotal for how investors frame Nvidia’s international demand curve in the months ahead.
Huang’s trip to Capitol Hill offered another window into the company’s broader policy stance. He told lawmakers that state-by-state U.S. regulations could slow AI progress, while Nvidia continued pushing back on a separate bill that would require the company to offer chips to U.S. customers before seeking licenses to sell into countries of concern. Nvidia has argued such a rule could restrict global competition, setting up a policy tension that investors may see as a swing factor for long-term AI leadership.
Later at a CSIS event, where Nvidia is a corporate donor, Huang attempted to cool speculation about large-scale smuggling of advanced GPUs into restricted markets. He pointed out that an AI data-center GPU weighs two tons, contains one and a half million parts, consumes 200,000 watts, and costs around $3 million a combination that makes covert transport on any meaningful volume a stretch. For now, the policy conversation is still shifting, but investors could see this moment as another reminder that regulatory outcomes may shape how Nvidia’s next leg of global growth unfolds.