Trump to meet Nvidia CEO Huang amid DeepSeek rise - report

Investing.comJan 31, 2025 2:30 PM

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Investing.com -- U.S. President Donald Trump is scheduled to meet with NVIDIA's (NASDAQ:NVDA) Chief Executive, Jensen Huang, at the White House on Friday, according to reports from Reuters, which cited a White House official. This meeting comes in the wake of Chinese AI firm DeepSeek's release of a cost-effective model, which utilizes old Nvidia GPUs.

DeepSeek's recent move has stirred the global tech scene, raising questions about how the company may have obtained access to more advanced Nvidia AI chips. Some speculations suggest that the access might have been facilitated through Singapore or other undisclosed methods.

This week, following DeepSeek's announcement, Nvidia's market cap has seen a substantial decrease, with losses amounting to hundreds of billions of dollars.

When asked to comment on the situation, Nvidia declined to make a statement.

Shares of NVIDIA bumped higher amid the Trump news, and they are now trading flat in pre-open trading on Friday.

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