Nvidia’s Blackwell AI chip “not for others,” Trump declares

Donald Trump said the United States will keep Nvidia’s most advanced Blackwell AI chips inside the country and away from China and others.

Speaking during a recorded CBS 60 Minutes interview and again to reporters on Air Force One, Trump said the strongest version of the Blackwell chip should be for U.S. use only. “The most advanced, we will not let anybody have them other than the United States,” he said. “We don’t give the Blackwell chip to other people.”

This signals tighter controls on high-end U.S. AI technology. The move could go beyond what officials had previously suggested. It would lock China and others out of the highest-performing semiconductors.

These chips are core to training powerful AI systems. They are also linked to national security concerns. This comes after the Trump administration introduced a new AI blueprint in July aimed at maintaining U.S. leadership over China.

That plan included expanding AI exports to U.S. allies and loosening environmental regulations to speed production.

Trump draws the line on China

There has been debate since August about whether a stripped-down version of the Blackwell chip might still be allowed for China. Trump addressed that directly. He said he would not approve the most advanced Blackwell chips for Chinese companies.

But he said there may be room for China to access a less capable version. “We will let them deal with Nvidia but not in terms of the most advanced,” he said in the 60 Minutes interview. The difference is performance. One version can drive next-generation AI development. The other is weaker.

China policy critics in Washington attacked the idea of allowing any version to China. Republican Congressman John Moolenaar, who chairs the House Select Committee on China, compared allowing even scaled-down chips to giving dangerous material to a hostile state.

John said it “would be akin to giving Iran weapons-grade uranium.” These critics believe any access could accelerate China’s military and AI expansion.

Trump had suggested earlier he might discuss the issue with China’s President Xi Jinping at a summit in South Korea. But he said the topic did not come up. Nvidia itself has also not requested U.S. export licenses for China.

Jensen Huang, Nvidia’s CEO, said China has made its position clear. “They’ve made it very clear that they don’t want Nvidia to be there right now,” Huang said. He noted Nvidia still needs China revenue to support research and development work based in the United States.

South Korea gets major supply deals

While China is not getting the advanced version, South Korea is getting a large shipment. Nvidia announced it will provide more than 260,000 Blackwell chips to South Korean companies, including Samsung Electronics.

This follows Huang’s visit to Seoul, where he met Samsung Chairman Jay Y. Lee and others. His visit played into market sentiment.

The Kospi Index had already surged 20% in October, the strongest monthly rally since 2001. It climbed again in early November, reaching record highs.

Investors moved heavily into companies linked to Nvidia’s supply chain. SK Hynix shares rose as much as 10% after analyst Han Dong-Hee at SK Securities more than doubled his price target. He said the sector needs a new way to evaluate chipmakers.

“With a new paradigm, we need a new multiple,” wrote Han. The rally also lifted HD Hyundai Electric and robotics and self-driving firms expected to benefit from wider AI development.

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