Trump rejected Nvidia's request to export chips to China.

U.S. President Donald Trump decided not to raise the issue of the export of Nvidia’s advanced Blackwell AI chips to China during his meeting with Chinese Leader Xi Jinping in Busan, South Korea, on October 30. This decision was influenced by strong opposing views from Trump's top advisors.

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

Nvidia CEO Jensen Huang is engaged in intense lobbying to maintain access to the Chinese market. Before the meeting between Trump and Xi, Huang stated at a Nvidia event held in Washington, "I hope President Trump will help us find a solution." He added, "I can say we are in an interesting situation right now."

This decision is seen as a significant setback for Nvidia, as the export of Blackwell chips to China potentially represented billions of dollars in sales opportunities.