Nvidia CEO Jensen Huang opts out of Trump’s inauguration, choosing to celebrate Lunar New Year with employees amid AI export concerns.
Why would he skip the inauguration when Trump is about to oversee the biggest technological boom in history?
At a Glance
- Jensen Huang skips Trump’s inauguration to celebrate Lunar New Year with Nvidia employees
- Huang has not yet discussed new AI export control rules with incoming Trump administration
- Nvidia’s market value exceeds $3 trillion due to high demand for AI chips
- New U.S. export restrictions could impact Nvidia’s revenue growth, especially from China
- Other tech leaders like Elon Musk and Jeff Bezos plan to attend the inauguration
Nvidia CEO Prioritizes Company Culture Over Political Event
In a surprising move, Nvidia CEO Jensen Huang has decided to forgo attending President-elect Donald Trump’s inauguration, opting instead to celebrate the Lunar New Year with his employees and their families. This decision comes at a time when Nvidia, a leading AI chip manufacturer, faces potential challenges due to new U.S. export restrictions on advanced technology.
While Huang’s absence from the inauguration has raised eyebrows, he has expressed his intention to congratulate the Trump administration once they take office. The CEO said, “But I’ll look forward to congratulating the Trump administration when they take office.”
AI Export Concerns and Market Growth
Nvidia’s decision comes amid growing concerns over new U.S. regulations limiting AI chip exports to most countries, excluding close allies like Taiwan. These restrictions, aimed at preventing China from acquiring advanced chips that could enhance its military capabilities, have the potential to significantly impact Nvidia’s revenue growth.
Despite these challenges, Nvidia has experienced remarkable market growth. The company’s market value has surged past $3 trillion, with its stock rising over 140% in the past year due to high demand for AI chips. This impressive performance underscores the critical role Nvidia plays in the rapidly expanding AI industry.
As the new export regulations are set to take effect 120 days from publication, Nvidia is preparing for potential economic ramifications. The company has criticized the new rules, suggesting they could harm U.S. leadership in AI. However, the incoming Trump administration’s stance on these regulations remains unclear, although they share concerns about China’s competitive threat.
In response to these challenges, Huang recently met with C.C. Wei, Chairman of Nvidia’s main supplier TSMC, to discuss increasing production of Nvidia’s advanced AI chips, known as Blackwell. This move indicates Nvidia’s proactive approach to maintaining its market dominance despite regulatory hurdles.
Huang’s decision to skip the inauguration stands in contrast to other tech industry leaders. Notable figures such as Elon Musk of Tesla, Jeff Bezos of Amazon, Mark Zuckerberg of Meta, and Sam Altman of OpenAI are reportedly planning to attend the event. This divergence highlights the varied responses within the tech industry to political events and regulatory challenges.