Nvidia (NVDA) CEO Jensen Huang on Tuesday met with Commerce Secretary Howard Lutnick, according to an Axios report. The meeting occurred while the Trump administration investigates potential violations involving Nvidia's AI chip exports to China. The Commerce Department is examining allegations that Moonshot AI accessed restricted Nvidia GB300 chips through Thailand. Huang's visit follows Nvidia's launch of the Open Secure AI Alliance on Monday, a coalition of nearly 40 companies focused on AI cybersecurity.
Huang Promotes $500 Billion U.S. Technology Investment Agenda
According to the Axios report, Huang is in Washington this week for meetings that include Senator Mark Warner (D-VA), the top Democrat on the Intelligence Committee, along with other lawmakers from both parties. An Nvidia spokesperson told Axios that Huang is in Washington to "meet with leaders on both sides of the aisle to discuss NVIDIA's work to strengthen the country's supply chain by producing $500 billion in American technology over four years and American leadership in AI, including leading in open source."
The report noted that Huang's visit with Lutnick coincided with the Trump administration finalizing a framework that would give the government early access to the most advanced AI models before their public release. The policy is expected by August 1.
Commerce Department Investigates Moonshot AI Chip Access Allegations
The White House alleged earlier this month that Moonshot AI accessed banned GB300 chips in Thailand to power its Kimi K3 model. The Commerce Department's Bureau of Industry and Security is investigating potential violations. Moonshot AI is reportedly seeking greater access to Nvidia's Blackwell processors to train its next-generation Kimi K4 large language model, a successor to the recently launched Kimi K3.
Taiwanese prosecutors reportedly detained an Nvidia employee on Tuesday as part of an investigation into the alleged smuggling of Nvidia AI chips into China, according to Reuters. The employee is suspected of falsifying business documents after investigators uncovered evidence during an earlier probe involving Super Micro Computer (SMCI).
NVDA Stocks Rise 0.79% Amid Semiconductor Selloff
NVDA stocks edged 0.79% higher in midday trade on Tuesday despite the broader selloff across technology stocks. Retail sentiment around the AI bellwether climbed to 'bullish' from 'bearish' territory over the past day, and chatter rose to 'high' from 'normal' levels. Platform data showed an over 400% uptick in message volume in the last 24 hours.
![NVDA retail sentiment chart]()
NVDA retail sentiment as of 1:00 p.m. ET | Source: Stocktwits
NVDA's stock has gained around 6% this year, and risen over 10% in the last 12 months.
FAQ
What did Nvidia CEO Jensen Huang do on Tuesday?
Nvidia CEO Jensen Huang on Tuesday met with Commerce Secretary Howard Lutnick, according to an Axios report. Huang is in Washington this week for meetings with lawmakers from both parties to discuss Nvidia's $500 billion U.S. technology investment agenda.
Why is the Commerce Department investigating Nvidia's chip exports?
The Commerce Department's Bureau of Industry and Security is investigating allegations that Moonshot AI accessed restricted Nvidia GB300 chips through Thailand to power its Kimi K3 model. The White House made these allegations earlier this month.
How did NVDA stocks perform on Tuesday?
NVDA stocks edged 0.79% higher in midday trade on Tuesday despite the broader selloff across technology stocks. Retail sentiment climbed to 'bullish' from 'bearish' territory over the past day.
