Trump bought up Nvidia stock as he decided on policy that would benefit chipmaker
Donald Trump purchased millions of dollars in Nvidia stock as he made decisions on America's China policy that would benefit the chipmaker, according to an analysis by anti-corruption group DeKleptocracy.
In May 2025, Trump's administration rescinded a Biden-era rule designed to prevent the most advanced US AI chips from being exported to China. This rule aimed to strengthen the US's own chip industry and protect America from what was widely regarded as a national security threat: the possibility that China might develop superior AI.
Stock purchases before policy shift
Trump's public financial disclosures indicate that in the days before rescinding the rule, he bought between $1m and $5m worth of Nvidia stock. He also purchased shares in other tech companies, including Microsoft, Meta and Apple. China had accounted for about a quarter of Nvidia's sales between 2010 and 2022.
While the country debates how a possible Chinese spy may have manipulated White House policy for one AI company, it must grapple with how Trump's corruption may have motivated him to deliver the entire AI industry's technology to China.
Controversial China sales approval
In December 2025, Trump announced he would allow Nvidia to sell H200 chips to China, a decision approved by the Department of Commerce in January 2026. The H200 was one of the company's most advanced chips – six times better than what was available in China at the time, according to experts.
The Council on Foreign Relations suggested selling H200s would "supercharge" China's future AI factories and strengthen the US's rival. Trump made at least three additional purchases of Nvidia stock in the days after announcing this decision, each between $250,001 and $500,000.
Alleged spy connection
The US has been grappling with revelations that Jensen Huang, Nvidia's former CEO, had an affair with an alleged Chinese spy, Alice Huang. Reports suggest this relationship allowed Alice Huang's company, Megaspeed, to obtain billions worth of Nvidia's chips while other companies struggled.
Trump was twice briefed by US intelligence officials that Alice Huang was a Chinese asset but did not act on this assessment. Jensen Huang has been described as a close Trump ally and has met the president multiple times. Nvidia made a $25m contribution to Trump's ballroom in October 2025.
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