Key Advisors Wealth Management co-founder Eddie Ghabour reveals why he recently bought Nvidia stock during an appearance on ‘Varney & Co.
President Donald Trump is scheduled to meet with Nvidia CEO Jensen Huang at the White House on Friday, FOX Business confirmed.
Huang and Trump are expected to discuss artificial intelligence (AI), as well as chips and the power needed to train AI models and semiconductor manufacturing facilities.
Nvidia has emerged as a leader in the market for advanced chips that are used to train sophisticated AI models, and has also developed AI chips for autonomous cars and general robotics.
The meeting between Huang and Trump comes after Chinese AI startup DeepSeek released an AI chatbot that vaulted past OpenAI’s ChatGPT in the Apple App Store. DeepSeek claimed its chatbot was trained on 2,000 Nvidia H800 GPUs at a cost of less than $6 million – though critics have cast doubt on that figure.
DeepSeek’s emergence roiled U.S. tech stocks including Nvidia, which fell 17% on Monday. That wiped about $20 billion off of Huang’s net worth, dropping it to about $103.7 billion. Huang’s current net worth ranks among the 20 largest fortunes in the world, according to Forbes.
This is a developing story. Please check back for updates.
FOX Business’ Edward Lawrence contributed to this report