Nvidia CEO Jensen Huang down the negative impact of President Donald Trump’s tariffs and said there will be no major damage in the short term.
“We have a lot of AI… AI is the foundation and the operating system for all industries going forward. …We are keen to build America,” Huang said Wednesday on CNBC’s “Squawk on the Street.” “The partners are working with us to bring manufacturing here. The impact of tariffs is meaningless in the near future.”
Trump has launched a new trade war by imposing tariffs on three biggest trading partners in Washington, which respond instantly from Mexico, Canada and China. Recently, Trump said he would not change his mind about carrying out “mutual tariffs” on other countries that have placed trade barriers on US goods. The White House said these tariffs are set to take effect on April 2.
“We’re just as enthusiastic about building in America as anyone,” Fan said. “We’ve been working with TSMC to prepare to manufacture chips in the US, and we also have great partners like Foxconn and Wistron. They’re introducing manufacturing on land with us, so long-term manufacturing on land is very possible.”
Nvidia’s shares fell more than 20% from its record high in January. The stock suffered a massive sale earlier this year due to concerns raised by China’s artificial intelligence lab Deepseek, which would allow companies to achieve greater performance with AI at a wide range of infrastructure costs. Huang pushed back that theory and said Deepseek popularized inference models that require more chips.
Nvidia, which designs and manufactures graphics processing units essential to the AI boom, is restricted from doing business in China due to increased export controls at the end of the Biden administration.
Huang previously added that export restrictions have led to the company’s share of revenue in China down about half, with countries including Huawei having other competitive pressures.
