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President Donald Trump is scheduled to meet with Nvidia CEO Jensen Huang at the White House on Friday, FOX Business confirmed.
Huang and Trump are expected to discuss artificial intelligence (AI), as well as chips and the power needed to train AI models and semiconductor manufacturing facilities.
Nvidia has emerged as a leader in the market for advanced chips that are used to train sophisticated AI models, and has also developed AI chips for autonomous cars and general robotics.
The meeting between Huang and Trump comes after Chinese AI startup DeepSeek released an AI chatbot that vaulted past OpenAI’s ChatGPT in the Apple App Store. DeepSeek claimed its chatbot was trained on 2,000 Nvidia H800 GPUs at a cost of less than $6 million – though critics have cast doubt on that figure.
DeepSeek’s emergence roiled U.S. tech stocks including Nvidia, which fell 17% on Monday. That wiped about $20 billion off of Huang’s net worth, dropping it to about $103.7 billion. Huang’s current net worth ranks among the 20 largest fortunes in the world, according to Forbes.
Nvidia’s stock is down a little more than 6% for the month as of Friday morning, having recovered some of the losses from its recent decline. However, Nvidia shares are up 104% from a year ago despite the recent dip.
Huang recently outlined Nvidia’s new initiatives in a keynote address at the annual Consumer Electronics Show conference in Las Vegas.
“The ChatGPT moment for general robotics is just around the corner,” Huang said in reference to the impact of OpenAI’s ChatGPT spurring broader interest in generative AI technology with the release of a conversational AI chatbot in late 2022.
“In fact, all of the enabling technologies that I’ve been talking about is going to make it possible for us in the next several years to see very rapid breakthroughs, surprising breakthroughs, in general robotics.”
Huang said AI tools will help facilitate the growth of general robotics technologies in areas like information technology, self-driving cars and humanoid robots that can automate more of the work performed in manufacturing facilities and warehouses.
FOX Business’ Edward Lawrence contributed to this report