Trump bought Nvidia stock as he helped chipmaker with change to export rule

President Donald Trump acquired Nvidia stock valued at millions of dollars shortly before his administration overturned a Biden-era rule, according to a recent analysis. The rule, introduced in May 2025, sought to restrict the export of the most advanced U.S.-made AI chips to China, aiming to bolster the domestic chip industry and safeguard against potential security threats posed by China's rapid AI development.

In the days leading up to the rule's revocation, Trump's financial disclosures revealed purchases ranging from $1 million to $5 million worth of Nvidia shares, as noted by the anti-corruption group DeKleptocracy. The chipmaker also saw additional investments in other prominent tech companies like Apple, Meta, and Microsoft. The rule's repeal would have limited Nvidia's sales to China, which comprised around a quarter of the company's revenue from 2010 to 2022.

Following Trump's announcement, Nvidia's shares experienced a rise in value, which coincided with his stock purchases. In December 2025, Trump signaled his approval for Nvidia to sell H200 chips to China, a decision endorsed by the Department of Commerce in January 2026. The H200s were lauded as six times more advanced than the competition available in China at the time, potentially boosting China's AI capabilities significantly.

Trump reportedly made at least three additional Nvidia stock purchases in the weeks following the H200 announcement, with each transaction exceeding $250,000. The analysis raises concerns about Trump's potential motivations, suggesting that his personal interests may have influenced decisions that would ultimately benefit Nvidia and other tech companies at the expense of U.S. national security.