Trump bought Nvidia shares before rescinding export rule

Donald Trump purchased between $1 million and $5 million of Nvidia stock in the days preceding his administration’s May 2025 decision to rescind a Biden‑era rule that limited the export of advanced AI chips to China.

The rule had been intended to protect U.S. national security and bolster the domestic chip industry by restricting sales of the most sophisticated AI chips to China, which accounted for about a quarter of Nvidia’s sales from 2010 to 2022.

According to Trump’s public financial disclosures, the former president also bought shares in other technology firms, including Apple, Meta and Microsoft, and made at least three further Nvidia purchases of $250,001 to $500,000 each after announcing the policy change.

Following the rescission, Nvidia’s share price rose, and in December 2025 Trump announced that the company would be allowed to sell its H200 chips to China – a move approved by the Department of Commerce in January 2026. The H200 is described as six times more advanced than existing Chinese offerings.

Anti‑corruption group DeKleptocracy highlighted the timing of the trades, suggesting a possible conflict of interest, while the Council on Foreign Relations warned that the H200 sales could “supercharge” China’s AI capabilities.

Nvidia contributed €25 million to a Trump fundraiser in October 2025, and its former chief executive Jensen Huang, described as a close ally of Trump, has met the president on several occasions.

Source: The Guardian. Photo: Leeloo The First / Pexels.