Shares of Nvidia (NASDAQ:NVDA) moved higher in premarket trading on Wednesday after U.S. President Donald Trump confirmed that Nvidia chief executive Jensen Huang was accompanying him on his trip to China, pushing back against earlier media reports suggesting the chipmaker executive had not been included in the delegation.
“Jensen is currently on Air Force One,” Trump wrote on Truth Social, while dismissing CNBC reports claiming Huang was not participating in the visit as “FAKE NEWS.”
Nvidia shares were up 2.4% in premarket activity by 04:30 ET.
Trump says leading U.S. executives will attend Beijing meetings
Trump stated that Huang would join several prominent American business leaders during meetings with Chinese President Xi Jinping in Beijing.
According to Trump, the delegation also includes Elon Musk, Tim Cook, Larry Fink, Stephen Schwarzman and David Solomon.
Trump said he intends to encourage Xi to “open up” China further to American companies during the discussions, which are expected to address trade relations, artificial intelligence, tariffs and broader geopolitical tensions.
Huang’s attendance draws attention amid chip export restrictions
Trump’s comments appeared to confirm fresh reports earlier Wednesday indicating Huang would ultimately join the delegation after previous reports suggested he was absent from an initial White House list of executives expected to attend.
Huang’s participation is being closely monitored because of Nvidia’s efforts to preserve access to the Chinese market while the United States continues tightening semiconductor export restrictions.
The Trump-Xi summit, scheduled for May 14-15, comes as Washington and Beijing attempt to stabilize relations following months of friction linked to trade disputes, technology controls and Taiwan.
Huang had previously said it would be “a great honor” to accompany Trump to China if he received an invitation.