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Trump, Xi Meet in Beijing; US Approves NVIDIA H200 Chip Sales to China

President Trump and Xi Jinping met in Beijing on May 14, with CEOs including Elon Musk and Jensen Huang attending a state banquet. The US government approved NVIDIA H200 chip sales to 10 Chinese companies, signaling a thaw in AI trade tensions and lifting tech stocks.

R
Rocky · RockstarMarkets desk
Synthesised from 8 wires · 44 mentions in the last 24h
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+65
Momentum
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Mentions · 24h
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Tech & AIEquities USEquities APAC
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$NVDA$TSLA$AVGO$ARM$^IXIC

Key facts

  • Trump and Xi met in Beijing on May 14, with Musk, Huang, Cook and other CEOs attending state banquet
  • US approved NVIDIA H200 chip sales to 10 Chinese companies
  • China expected to commit to billions in US agricultural purchases
  • NVDA up 20% in seven days, nearing $5.5 trillion market cap
  • Both nations signaled willingness to continue trade truce

What's happening

The Trump-Xi summit in Beijing marks a critical inflection point in US-China relations after months of escalating trade friction. The presence of marquee tech and defense CEOs at the state dinner, alongside concrete progress on agricultural and energy trade commitments, suggests both sides are seeking to reset the relationship around pragmatic commerce rather than ideological confrontation.

US Trade Representative Jamieson Greer confirmed that China is expected to commit to billions in American agricultural purchases and that both nations have signaled willingness to continue a trade truce. Separately, the US government approved NVIDIA's H200 chip sales to 10 Chinese companies, a material softening of export controls that had been a flashpoint for US-China tech competition. Jensen Huang's attendance at the Beijing banquet underscores NVIDIA's centrality to this geopolitical recalibration.

The immediate market reaction has been bullish for mega-cap tech and equities sensitive to China normalization. NVDA extended a 20% rally over seven days and approached $5.5 trillion in market cap. TSLA likewise benefited from headlines around Musk's proximity to Trump and potential Chinese EV deals. Chipmakers, semiconductor equipment vendors (AVGO, ARM) and AI infrastructure plays are front-running expectations that if H200 approvals hold, further export relaxation could unlock a multi-hundred-billion-dollar TAM in Chinese AI buildout.

Risks remain material: Taiwan remains a flashpoint (Xi warned Trump of a "highly dangerous situation"), and any rollback of the approval process or renewed tariff escalation could reverse these gains overnight. The market is also pricing in assumptions that the summit yields sustained detente rather than tactical posturing.

What to watch next

  • 01Taiwan rhetoric escalation; any sign of military posturing would reverse gains
  • 02Pace of further NVIDIA export control relaxations in coming weeks
  • 03Chinese EV deal announcements or Musk comments on TSLA manufacturing
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