Nvidia CEO Jensen Huang says tariff impact won't be meaningful in the near term

Core Viewpoint - Nvidia's CEO Jensen Huang believes that the impact of President Trump's tariffs will not significantly harm the company in the short term, emphasizing the importance of AI development and manufacturing in America [1]. Group 1: Tariffs and Trade Relations - President Trump has initiated a trade war by imposing tariffs on major trading partners, with tariffs set to take effect on April 2 [1]. - Huang expressed optimism about manufacturing partnerships in the U.S. and downplayed the immediate effects of tariffs on Nvidia [1]. Group 2: Stock Performance and Market Concerns - Nvidia's shares have declined over 20% from their peak in January, primarily due to concerns regarding competition from Chinese AI lab DeepSeek, which suggests lower infrastructure costs for AI performance [2]. - Huang countered the concerns by stating that the reasoning models popularized by DeepSeek will require more chips, indicating a continued demand for Nvidia's products [2]. Group 3: Business Operations in China - Nvidia has faced restrictions in conducting business in China due to increased export controls, which have halved the company's revenue percentage from the region [3]. - Competitive pressures in China, particularly from companies like Huawei, have also impacted Nvidia's market position [3].