Trump did not give the green light to Nvidia's exports to China.

President Donald Trump, on October 30, decided not to discuss the export of Nvidia's advanced Blackwell AI chips to China during a meeting with Chinese leader Xi Jinping in the city of Busan, South Korea. This decision was shaped by strong opposition from his senior advisors.

According to The Wall Street Journal, Secretary of State Marco Rubio and other officials warned Trump that approving the export of these chips would threaten national security and enhance China's artificial intelligence capabilities. Secretary of Commerce Howard Lutnick and U.S. Trade Representative Jamieson Greer also opposed the approval.

Nvidia CEO Jensen Huang has been lobbying intensively to preserve access to the Chinese market, which he estimates hosts approximately half of the world's AI researchers. Huang stated at a Nvidia event in Washington, "I hope President Trump can help us find a solution. We are in a difficult place right now."

This decision represents a significant setback for Nvidia, as exporting Blackwell chips to China would have potentially allowed the company to generate tens of billions of dollars in sales.