White House says it's working out legality of Nvidia and AMD China chip deals

Core Points - The Trump administration is negotiating a 15% export tax on Nvidia and AMD, with potential expansion to other companies in the future [1][2] - A deal has been confirmed where the U.S. government will approve export licenses for Nvidia's H20 AI chip in exchange for a revenue cut [3][4] - The H20 chip is specifically designed for the Chinese market and is intentionally slowed down to comply with U.S. export regulations [5][6] - The U.S. regulates AI chips for national security reasons, citing concerns over their potential use by the Chinese government and military [7] Company-Specific Insights - Nvidia is expected to sell over $8 billion worth of H20 chips in a single quarter, but export licenses are now required due to government regulations [6] - The legality and implementation of the export tax and licenses are still being worked out by the Department of Commerce [2][4] - The Chinese government is encouraging local companies to avoid using Nvidia's H20 chips for government-related work [7]