Nvidia CEO Jensen Huang to skip Trump inauguration to celebrate Lunar New Year with employees

Nvidia CEO Jensen Huang has opted out of attending U.S. President-elect Donald Trump’s inauguration, choosing instead to spend time celebrating the Lunar New Year with employees and their families. Huang announced his decision during Nvidia’s New Year party in Taipei, where he highlighted the importance of the holiday and his commitment to employees.

“I’ll be on the road, celebrating the Lunar New Year with our teams and their families,” Huang said when asked about skipping the upcoming inauguration.

The CEO also confirmed plans to attend similar celebrations in Beijing next week, as part of Nvidia’s efforts to engage with its workforce and partners across Asia.

Huang’s comments come in the wake of newly announced U.S. export restrictions on artificial intelligence (AI) chips under outgoing President Joe Biden’s administration. The rules limit the export of advanced chips to countries outside a select group of U.S. allies, including Taiwan, and maintain a ban on exports to China, a key market.

Huang refrained from commenting on the incoming administration’s stance but expressed optimism, saying, “I’ll look forward to congratulating the Trump administration when they take office.”

During his visit to Taipei, Huang met with TSMC Chairman C.C. Wei to discuss scaling up production of Nvidia’s cutting-edge Blackwell AI chips. The collaboration with TSMC, Nvidia’s primary supplier, is crucial as the company navigates rising global demand for semiconductors.

Nvidia, now valued at over $3 trillion, has seen unprecedented growth driven by surging demand for AI chips. However, the new U.S. export controls could disrupt the company’s ability to meet investor expectations for robust revenue growth.

Nvidia has been vocal about its concerns, warning that the tighter regulations could jeopardise the U.S.’s leadership in AI innovation. “Restricting AI chip exports risks undermining the progress made in the U.S. AI industry,” Nvidia stated earlier this week.

The Biden administration’s rules aim to curb Beijing’s access to advanced AI technology, citing national security concerns. The Trump administration, set to take office on January 20, shares similar views on limiting China’s technological capabilities, leaving uncertainty around how the new regulations will be enforced.

With the rules set to take effect in 120 days, the new administration will have a window to review and potentially modify them.