President Donald Trump acquired between $1 million and $5 million in Nvidia stock just days before his administration rescinded a Biden-era rule that restricted the export of high-end AI chips to China. In the days before he rescinded the rule, Trump’s public financial disclosures indicate that he bought between $1m (£760,000) and $5m worth of Nvidia stock – a purchase noted in an analysis by the anti-corruption group DeKleptocracy.
The move, enacted in May 2025, aimed to bolster domestic industry and prevent China from gaining superior artificial intelligence capabilities. This rule aimed to strengthen the US’s own chip industry and to protect America from what was widely regarded as a national security threat: the possibility that China might develop superior AI.
Prior to the reversal, the diffusion policy had protected sensitive technology that comprised about a quarter of Nvidia’s market reach between 2010 and 2022. The diffusion rule would have limited Nvidia’s ability to sell to what has been one of its largest markets: China accounted for about a quarter of the company’s sales between 2010 and 2022. It must grapple with how Trump’s corruption may have motivated him to deliver the entire AI industry’s technology to China.”, deKleptocracy wrote in its analysis: “While the country debates how a possible Chinese spy may have manipulated White House policy for one AI company.
Following the policy change, Nvidia’s share price experienced a notable increase. By December 2025, Trump authorized the sale of H200 chips to Chinese entities, a decision formalized by the Department of Commerce in January 2026. Experts noted these units were six times more efficient than existing technology in China, leading the Council on Foreign Relations to warn that the move would “supercharge” Chinese AI production and empower a major US geopolitical rival.
Financial filings show Trump made subsequent purchases of Nvidia shares in late 2025, with at least three trades totaling between $250,001 and $500,000 each shortly after the policy announcements.
These transactions are part of a broader pattern of dozens of trades involving the chipmaker since he took office. The anti-corruption organization DeKleptocracy highlighted these ties, questioning whether the president’s policy shifts were influenced by personal financial gain regarding the AI sector.
The controversy is compounded by ongoing scrutiny surrounding Jensen Huang, Nvidia’s former CEO, and his links to alleged Chinese intelligence asset Alice Huang. Reports suggest that a relationship between the two may have facilitated the acquisition of billions of dollars in Nvidia hardware by her company, Megaspeed. Despite receiving two intelligence briefings identifying Alice Huang as a Chinese asset, the president reportedly took no action.
Jensen Huang, frequently cited as a close presidential ally, has met with Trump on several occasions. In October 2025, Nvidia contributed $25 million toward the funding of the president’s ballroom project. At the time, Huang expressed that he was “delighted to be a part of it.” Throughout this period, Trump also expanded his portfolio with holdings in other major tech firms, including Microsoft, Meta, and Apple.
