CEOs Like Dimon, Huang Warn About the $100K H-1B Visa Fee—Here's Why It Matters

Core Insights - The article discusses the implications of President Trump's proposed $100,000 application fee for new H-1B visas, which has sparked varied reactions from technology executives, including Nvidia CEO Jensen Huang and OpenAI CEO Sam Altman [2][5][10]. Visa Program Changes - The H-1B visa program allows companies to bring skilled workers to the U.S., with a current cap of 65,000 visas per year, plus an additional 20,000 for those with master's degrees or higher [3][11]. - Previously, employers paid a $215 fee to enter applicants into the visa lottery, which will now be replaced by the proposed $100,000 fee for new applicants [3][5]. Industry Reactions - Jensen Huang emphasized the importance of attracting the brightest minds to the U.S. and described immigration as foundational to the American Dream [2]. - Other tech leaders, like Reed Hastings, suggested that the new fee could reduce applications, potentially leading to a more predictable process for international workers [4][12]. - CoreWeave CEO Michael Intrator criticized the fee as a hindrance to accessing talent, calling it "sand in the gears" [6]. Concerns from the Tech Sector - Many startups in Silicon Valley fear that the new fee will disadvantage them compared to larger tech companies, which may afford the fee more easily [12]. - The Pew Research Center reported that approximately 65% of approved H-1B workers in 2023 were employed in computer-related jobs, highlighting the program's significance to the tech industry [11]. Broader Implications - The Trump administration's rationale for the fee includes concerns about the H-1B program being exploited to replace American workers with lower-paid labor, particularly in tech [10]. - Jamie Dimon of JPMorgan Chase expressed surprise at the announcement and anticipated pushback from businesses, indicating a potential backlash against the changes [8].