President Donald Trump confirmed Wednesday that NVIDIA Corporation (NASDAQ: NVDA) CEO Jensen Huang is joining him on his trip to China this week. The President invited Huang, along with more than a dozen other leading U.S. business executives, to accompany him to Beijing for planned meetings with Chinese President Xi Jinping on Thursday and Friday.
The delegation includes prominent figures such as:
- Elon Musk (Tesla, SpaceX),
- Tim Cook (Apple),
- Larry Fink (BlackRock),
- Stephen Schwarzman (Blackstone),
- Kelly Ortberg (Boeing),
- Brian Sikes (Cargill),
- Jane Fraser (Citi),
- Larry Culp (GE Aerospace),
- David Solomon (Goldman Sachs),
- Sanjay Mehrotra (Micron), and
- Cristiano Amon (Qualcomm).
In a post on his Truth Social platform, Trump corrected an earlier report by CNBC that Huang was not invited, called those claims “FAKE NEWS!”
“CNBC incorrectly reported that the Great Jensen Huang of Nvidia was not invited to the incredible gathering of the World’s Greatest Businessmen/women proudly going to China,” the President said.
Huang, who was not originally part of the delegation, flew to Alaska on Tuesday to board Air Force One for the final leg to Beijing.
Key Takeaway for Markets
The news has given retail sentiment toward Nvidia a notable boost. The stock became the top-trending ticker on Stocktwits heading into Wednesday, with traders viewing the CEO’s inclusion in the high-profile diplomatic mission as a significant positive development.
The China Overhang
A key overhang on Nvidia shares has been the stagnation of its business in the critical China market due to U.S. government export restrictions on advanced semiconductors. Huang recently noted the company’s revenue from China has effectively dropped to “mid-single-digits,” down from a peak contribution of 25% of total revenue.
The inclusion of Huang in the talks suggests the issue may be addressed at the highest levels. In his post, Trump said he will urge President Xi to “open up” China, indicating the trip’s agenda includes trade and market access.
What’s Next for Nvidia
The Beijing talks take on even greater significance ahead of Nvidia’s fiscal first-quarter earnings report, scheduled for May 20. Wall Street is expecting another blockbuster quarter, with revenue forecast to surge 79% year-over-year to $78.98 billion.
Nvidia shares have gained 14% this month through Tuesday’s close, while the iShares Semiconductor ETF (SOXX) is up 40.4% over the same period. Investors will be watching closely for any commentary from the company on the post-earnings conference call about potential developments from the China front.
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