Politics1 min read

Trump bought up Nvidia stock as he decided on policy that would benefit chipmaker

By · Via The Guardian Business · Published by Everything Blog

In short

In May 2025, Donald Trump lifted Biden-era export restrictions on advanced AI chips just days after buying up to $5 million in Nvidia shares. Later that year, the administration authorized the sale of advanced H200 chips to China, prompting Trump to execute several additional stock purchases valued at hundreds of thousands of dollars. The regulatory approvals came alongside a $25 million corporate donation from Nvidia toward Trump’s ballroom and multiple private meetings with former CEO Jensen Huang. Furthermore, Trump declined to act on intelligence briefings warning that an alleged Chinese spy had secured billions in Nvidia hardware.

Key points

  • Executive policy shifts directly permitted the sale of Nvidia H200 chips to China despite…: Executive policy shifts directly permitted the sale of Nvidia H200 chips to China despite national security warnings.
  • Intelligence officials warned the president about an alleged Chinese asset acquiring bill…: Intelligence officials warned the president about an alleged Chinese asset acquiring billions in Nvidia chips without prompting administrative action.
  • Trump has completed dozens of stock trades involving Nvidia equity since assuming preside…: Trump has completed dozens of stock trades involving Nvidia equity since assuming presidential office.

Sources checked by our analysis pipeline: 1

Donald Trump bought Nvidia stock worth millions of dollars as he made decisions on America’s China policy that would benefit the chipmaker, an analysis has found.

In May 2025, Trump’s administration rescinded a Biden-era rule designed to prevent the most advanced US-made AI chips from being exported to China.

This rule aimed to strengthen the US’s own chip industry and to protect America from what was widely regarded as a national security threat: the possibility that China might develop superior AI.

In the days before he rescinded the rule, Trump’s public financial disclosures indicate that he bought between $1m (£760,000) and $5m worth of Nvidia stock – a purchase noted in an analysis by the anti-corruption group DeKleptocracy.

He also bought shares in other tech companies, including Apple, Meta and Microsoft.

The diffusion rule would have limited Nvidia’s ability to sell to what has been one of its largest markets: China accounted for about a quarter of the company’s sales between 2010 and 2022. Nvidia’s shares rose in value just after Trump announced the rescission of the rule, and after…

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