Nvidia CEO Left Out of Trump’s China Trip as Apple and Tesla Chiefs Join Delegation

TLDR

• Nvidia CEO Jensen Huang was not included in Trump’s business delegation to China this week.
• Apple’s Tim Cook and Tesla’s Elon Musk were among the tech leaders invited.
• Nvidia has been working to sell its H200 chips in China, a market Huang valued at $50 billion annually.
• Nvidia stock dipped around 0.7% in premarket trading Tuesday after closing at a record high Monday.
• Q1 earnings are due May 20, with Wall Street expecting revenue of over $78.6 billion.

Nvidia CEO Jensen Huang was left out of the group of U.S. business leaders traveling with President Donald Trump to China this week. The omission comes as Nvidia has been pushing hard to expand chip sales in the Chinese market.

According to reports citing a White House official, the delegation includes Apple CEO Tim Cook and Tesla CEO Elon Musk. Nvidia was not expected to participate in the trip.

The exclusion raised questions about the company’s ability to advance its sales goals in China at a high-profile diplomatic moment.

Huang has publicly described China as a $50 billion annual market for AI infrastructure, growing at 50% a year. He has pushed for Nvidia to be allowed to sell chips to Chinese customers under current export rules.

Nvidia cannot sell its most powerful processors to Chinese buyers due to U.S. export restrictions. The company designed its H200 chips specifically to comply with those rules.

In March, Huang said Nvidia had restarted manufacturing of the H200 for the Chinese market and had received orders from multiple customers. He did not provide revenue figures.

Nvidia Stock and Market Reaction

Nvidia shares fell around 0.7% in premarket trading on Tuesday, to $217.96. The stock had closed at a record high of $219.44 on Monday, up 2% on the day.

Despite the premarket dip, the stock had already gained 12% over the previous five trading sessions. Investors have been buoyed by strong demand for AI chips.

The next major event for the stock is the company’s fiscal Q1 earnings report, due May 20. Wall Street expects revenue to exceed $78.6 billion, up 78% from a year ago.

The China trip takes place as Washington and Beijing continue to navigate ongoing trade tensions tied to technology exports, tariffs, and supply chains.

Trump last met Chinese President Xi Jinping in October, during talks in South Korea. Both sides agreed at that time to ease trade disputes that had involved steep tariffs and concerns over China’s rare earth supply chain.

What’s at Stake for Nvidia in China

Nvidia has faced regulatory and political hurdles in both the U.S. and China in its bid to access the Chinese AI market.

The company’s exclusion from the Trump delegation means it won’t have a seat at the table during what could be important trade discussions.

It’s unclear whether Huang was formally considered for the trip or simply not invited. Nvidia did not immediately respond to a request for comment.

Still, with earnings around the corner and a stock near record highs, investors appear to be focused more on Nvidia’s near-term financial results than on the diplomatic setback.

The earnings report on May 20 will be the next key test for the stock.

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