Nvidia Shares Rise as Jensen Huang Skips Trump China Visit

Nvidia shares climbed nearly 5% to $222.16 on Monday after reports that Chief Executive Jensen Huang will not travel with President Donald Trump to Beijing for a state visit next week. Trump is due to arrive on May 13, with formal meetings on May 14 and 15. The White House has not released a final list of business delegation attendees.

The report arrived as investors have already been pricing in limited revenue from China for Nvidia’s most advanced AI accelerators because of U.S. export controls. Huang told investors the company’s market share for advanced AI accelerators in China had fallen to essentially zero under those controls.

Analysts and portfolio managers say company models and current valuations assume little to no revenue from restricted, high-end accelerators sold into China. Market participants noted a single appearance alongside the president would not change the export policy framework, which is set by the Commerce Department and Congress.

Executives named as part of the business delegation include Boeing’s Kelly Ortberg and Citigroup’s Jane Fraser; Qualcomm’s Cristiano Amon is expected. Tech leaders such as Elon Musk and Apple’s Tim Cook have been mentioned as possible participants.

Nvidia posted record revenue in its latest quarter and reported strong demand from hyperscale cloud customers outside China. Investors are watching any post-summit communiqués for language on semiconductor export carve-outs; until then, sales to U.S. and allied customers remain the primary revenue driver cited by market participants.

A social media post suggested the reported exclusion could indicate the administration is not willing to offer chip concessions during trade discussions.