Having pumped (and dumped) earlier today on reports that the Trump administration will allow H200 chip exports to China, NVDA shares extending gains the after-hours (to the highs of the day) after President issued a statement on X, confirming he will allow Nvidia to ship its chips to China and noting that "President Xi respondedly positively."

NVDA spiked...

Trump wrote that "I have informed President Xi, of China, that the United States will allow NVIDIA to ship its H200 products to approved customers in China, and other Countries, under conditions that allow for continued strong National Security."

He added that:

"President Xi responded positively!"

At a cost:

"25% will be paid to the United States of America. This policy will support American Jobs, strengthen U.S. Manufacturing, and benefit American Taxpayers."

Trump continued:

"The Biden Administration forced our Great Companies to spend BILLIONS OF DOLLARS building “degraded" products that nobody wanted, a terrible idea that slowed Innovation, and hurt the American Worker. That Era is OVER!

We will protect National Security, create American Jobs, and keep America’s lead in Al. NVIDIA’s U.S. Customers are already moving forward with their incredible, highly advanced Blackwell chips, and soon, Rubin, neither of which are part of this deal. My Administration will always put America FIRST.

The Department of Commerce is finalizing the details, and the same approach will apply to AMD, Intel, and other GREAT American Companies. MAKE AMERICA GREAT AGAIN!"

Permission for H200 exports is seen as a compromise from Nvidia’s earlier push to sell its more advanced Blackwell design chips to Chinese customers, a person familiar with the matter said prior to the announcement.

After meeting with Trump on Wednesday, Huang expressed uncertainty about whether China would accept Nvidia’s H200 chips should the US relax restrictions on sales of the processors.

“We don’t know. We have no clue,” Huang said, as he headed into a closed-door meeting with members of the Senate Banking Committee, which has jurisdiction over export controls.

“We can’t degrade chips that we sell to China — they won’t accept that.”

So, Jensen gets his deal at a cost - if China wants the 'old chips' - and Trump gets to brag about more revenue for Washington and support the stock market.