US President Donald Trump bought millions of dollars’ worth of Nvidia shares around the time his administration made major decisions that opened the door for the chipmaker to sell advanced AI chips to China, an analysis by an anti-corruption group has found.
Trump’s financial disclosures show that he purchased between $1 million and $5 million worth of Nvidia stock in the days before his administration scrapped a Biden-era rule restricting the export of advanced American AI chips to China in May 2025.
The transactions have raised questions about a possible conflict of interest, given that the policy reversal stood to benefit Nvidia, one of the world’s biggest chipmakers.
The purchases were flagged by DeKleptocracy, an anti-corruption group that examined Trump’s financial disclosures. The US President also bought shares in other major technology companies, including Apple, Meta and Microsoft.
Trump Scrapped China Chip Restrictions After Buying Nvidia Stock
The rule, introduced under former President Joe Biden, was designed to restrict China’s access to America’s most advanced AI technology.
Known as the “AI Diffusion Framework”, it aimed to protect US national security and maintain America’s lead in artificial intelligence. One of its key concerns was that China could use advanced American chips to develop more powerful AI systems and eventually overtake the US.
However, the Trump administration scrapped the framework in May 2025, removing restrictions that could have limited Nvidia’s ability to sell its chips to China.
China has historically been a major market for the company. It accounted for roughly a quarter of Nvidia’s sales between 2010 and 2022.
Nvidia’s shares gained value shortly after Trump announced the policy reversal. This came after Trump had already purchased millions of dollars’ worth of its stock.
Trump Later Cleared Nvidia’s Powerful H200 Chips For China
In December 2025, Trump announced that Nvidia would be allowed to sell its H200 chips to China. The Department of Commerce approved the move in January 2026.
The decision drew criticism because the H200 is among Nvidia’s most advanced AI chips. It was around six times more powerful than the chips available in China at the time.
The Council on Foreign Relations, a US think tank focused on foreign policy and international relations, warned that allowing the sales could “supercharge” China’s future AI factories and strengthen a major American rival.
Trump’s financial disclosures also show that he made at least three Nvidia stock purchases in the days after announcing the H200 decision.
Each transaction was valued between $250,001 and $500,000.
These rank among his larger purchases of Nvidia shares. However, the disclosures suggest that Trump has carried out dozens of transactions involving the company’s stock since taking office.
Anti-Corruption Group Raises Questions Over Trump’s Motives
DeKleptocracy has questioned whether Trump’s personal financial interests may have played a role in decisions that could benefit Nvidia and the wider AI industry.
The group drew a comparison with concerns over an alleged Chinese spy influencing White House policy in favour of an AI company. It argued that the President’s own financial interests deserved equal scrutiny.
DeKleptocracy wrote in its analysis, “While the country debates how a possible Chinese spy may have manipulated White House policy for one AI company, it must grapple with how Trump’s corruption may have motivated him to deliver the entire AI industry’s technology to China.”