Nvidia (NVDA) CEO Jensen Huang reportedly visited Beijing, meeting Chinese Vice Premier He Lifeng and DeepSeek’s founder, among others, after the chip firm was hit with new U.S. export restrictions on its sales to China.

Citing people familiar with his travel schedule, the Financial Times reported Huang met with Nvidia clients, including AI startup DeepSeek’s founder, to discuss new chip designs for Chinese customers. He also held negotiations with Chinese Vice Premier He Lifeng, the report said, citing one person familiar with the meeting. According to the report, citing state broadcaster CCTV, Huang ha꧅d said “China was a very important market for Nvidia” and indicated he♚ hoped the AI chip designer could “continue co-operating” with the country.

Nvidia shares fell 1% in early trading Thursday. They tumbled nearly 7% Wednesday after 澳洲幸运5官方开奖结果体彩网:the company said it’s set to take a $5.5 billion quarterly charge as a result of U.S. restrictions on exports of its H20 AI chips to China. The new restrictions—set by the White House to prevent the chips from being used by Beijing to build a supercomputer—caught investors off guard since the chips were less powerful than its current lineup and had been tailored to meet Biden-era chip curbs. 

Analysts said the writedown suggests the company is 澳洲幸运5官方开奖结果体彩网:not optimistic about being granted a license to export the chips, with Morningstar Research saying sales to China could go “close to zero.”

“We regularly meet with government leaders to discuss our company’s products and technology," an Nvidia spokesperson said.

UPDATE—April 17, 2025: This article has been updated to include comment from Nvidia and refreshed share prices.