Why the CEO of world's most valuable chip company won't attend Donald Trump's inauguration

Nvidia's chief executive Jensen Huang said on Friday he will not be attending U.S. President-elect Donald Trump's inauguration. If these reports are true, this will break away from a trend among US-based tech leaders attending the event. Unlike executives such as Apple CEO Tim Cook, Amazon co-founder Jeff Bezos, and Tesla head Elon Musk who is a close Trump ally, Huang will reportedly not represent Nvidia at the ceremony.

Nvidia is now the most valuable chipmaker globally and second only to Apple among tech companies. Meanwhile, the chip industry is expected to be represented at the Trump inauguration, with Arm Holdings CEO Rene Haas likely to attend the event.

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Why Nvidia CEO Jensen Huang won't attend Trump's inauguration

A report by the news agency Bloomberg citing a source familiar with Huang’s plans claimed that he is currently in East Asia, a routine trip he makes around the Lunar New Year. The source, who spoke anonymously, also noted that Huang has never attended a US presidential inauguration before.

However, a representative of California-based Nvidia declined to comment on Huang’s plans or any communication between the company and the incoming administration.

Earlier this month, Huang talked about his willingness to meet Trump, stating he’d be “delighted to meet Trump and “do whatever we can to make this administration succeed.’”

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However, at the time, Huang noted he had not yet received an invitation to the president-elect’s Mar-a-Lago residence in Florida. He also said that he expects that Trump would implement fewer regulations.

Asked by reporters outside Nvidia's new year party in Taipei whether he had talked with the incoming Trump administration about the new artificial intelligence export control rules the outgoing Biden administration unveiled this week, Huang said, "not yet"

"But I'll look forward to congratulating the Trump administration when they take office," he was quoted as saying by news agency Reuters.

Nvidia grappling with market regulations

Surging demand for chips has catapulted Santa Clara, California-based Nvidia into the ranks of the world's most valuable companies, with a market value exceeding $3 trillion. However, new U.S. government export restrictions on AI chips may complicate Nvidia's ability to deliver the robust revenue growth that investors expect.

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The regulations, announced by the administration of President Joe Biden on January 13, limit AI chip exports to most countries except for a select group of close U.S. allies including Taiwan.
They also maintain a block on exports to some countries, including China, as the U.S. tries to close regulatory loopholes and prevent Beijing from acquiring advanced chips that could bolster its military capabilities.

On Monday, Nvidia criticised Washington's latest effort to tighten its grip on AI chip flows around the world, saying the regulation would jeopardise current U.S. leadership in AI.

Trump will take over from Biden as U.S. President on January 20. While it is unclear how his administration will enforce the new rules, the two sides share similar views on the competitive threat from China. The new regulations are set to take effect 120 days from publication, giving the new administration time to weigh in.

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Currently, Nvidia is grappling with multiple new regulations introduced during the final days of the Biden administration. These measures aim to restrict access to advanced technologies, including Nvidia's latest AI chips, to prevent them from reaching China.

The company has strongly opposed the new export restrictions that were announced this week. The chip maker labelled these restrictions as an "overreach" and cautioned that it could have major consequences for the technology industry.

Earlier this week, Ned Finkle, Nvidia’s vice president of government affairs, said: “As the first Trump administration demonstrated, America wins through innovation, competition, and by sharing our technologies with the world — not by retreating behind a wall of government overreach.”