CNBC’s Kristina Partsinevelos reports:

Trump told Xi chip sales are “between you and Nvidia.” Huang must clear antitrust, backdoor H20 risks, and energy failures. By then, a source says B30A launching mid-2026 is 50% performance and a generation behind Rubin. Beijing stalling lets developers migrate to Huawei.

I think there is some worry in US circles that if Nvidia doesn’t provide chips to China, then they could develop their own and export to the rest of the world at much lower costs; and then it would be China that has the leverage elsewhere instead of the US.

Then again, I don’t think that genie is going back in the bottle anyway. Like rare earths, once you threaten supply, it’s incumbent that new supply chains are developed.