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Investing.com-- U.S. President Donald Trump said on Wednesday he will discuss Nvidia and its flagship artificial intelligence chip, Blackwell, during his upcoming meeting with Chinese President Xi Jinping this week.
Stock markets responded positively to Trump’s comments, with Wall Street futures slightly extending gains in Asian trade. Nasdaq 100 Futures were up 0.3% by 22:46 ET (02:46 GMT).
Speaking to reporters aboard Air Force One, Trump touted Blackwell, NVIDIA Corporation (NASDAQ:NVDA), and CEO Jensen Huang, calling the chip “amazing,” and that Nvidia was doing “unbelievable” work.
“We will be speaking about Blackwell,” Trump said, responding to a question on whether China’s restricting of U.S. chips will be discussed during the Xi meeting.
Trump’s comments came just after Nvidia’s Huang, during the company’s first developer conference in Washington, lauded Trump and said that the U.S. could win the AI race even with Chinese developers running Nvidia chips.
Nvidia’s shares surged to a record high on Tuesday, as Huang also touted more investment in the United States.
Nvidia was effectively blocked from Chinese markets earlier this year, as Beijing balked at Washington allowing only specific, relatively less powerful AI chips to be sold in the country. Under current U.S. export rules, Nvidia is unable to sell its flagship Blackwell line in the country.
Chip technology restrictions were a major point of contention for China during a recent trade conflict with the U.S., with Beijing seen encouraging more home-grown AI and chip ventures this year.
Huang has repeatedly decried U.S. and Chinese restrictions on chips, and has in recent months tread a thin line between furthering U.S. investment and not antagonizing China any further.
Trump is set to meet China’s Xi in South Korea on Thursday, as the U.S. president tours Asia. The meeting comes amid heightened trade tensions between the world’s largest economies.