On Wednesday, the White House released "Winning the Race: America's AI Action Plan," a 25-page document that outlines the Trump administration's strategy to "maintain unquestioned and unchallenged global technological dominance" in AI through deregulation, infrastructure investment, and international partnerships. But critics are already taking aim at the plan, saying it's doing Big Tech a big favor.

Assistant to the President for Science and Technology Michael Kratsios and Special Advisor for AI and Crypto David Sacks crafted the plan, which frames AI development as a race the US must win against global competitors, particularly China.

The document describes AI as the catalyst for "an industrial revolution, an information revolution, and a renaissance—all at once." It calls for removing regulatory barriers that the administration says hamper private sector innovation. The plan explicitly reverses several Biden-era policies, including Executive Order 14110 on AI model safety measures, which President Trump rescinded on his first day in office during his second term.

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Chinese firms have begun rushing to order Nvidia's H20 AI chips as the company plans to resume sales to mainland China, Reuters reports. The chip giant expects to receive US government licenses soon so that it can restart shipments of the restricted processors just days after CEO Jensen Huang met with President Donald Trump, potentially generating $15 billion to $20 billion in additional revenue this year.

Nvidia said in a statement that it is filing applications with the US government to resume H20 sales and that "the US government has assured Nvidia that licenses will be granted, and Nvidia hopes to start deliveries soon."

Since the launch of ChatGPT in 2022, Nvidia's financial trajectory has been linked to the demand for specialized hardware capable of executing AI models with maximum efficiency. Nvidia designed its data center GPU to perform the massive parallel computations required by neural networks, processing countless matrix operations simultaneously.

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On Wednesday, Nvidia became the first company in history to reach $4 trillion market valuation as shares rose more than 2 percent, reports CNBC. The GPU maker's stock has climbed 22 percent since the start of 2025, continuing a trend driven by demand for AI hardware following ChatGPT's late 2022 launch.

The milestone marks the highest market cap ever recorded for a publicly traded company, surpassing Apple's previous record of $3.8 trillion set in December. Nvidia first crossed $2 trillion in February 2024 and reached $3 trillion just four months later in June. The $4 trillion valuation represents a market capitalization larger than the GDP of most countries.

As we explained in 2023, Nvidia's continued success has been intimately tied to growth in demand for hardware that runs AI models as capably and efficiently as possible. The company's data center GPUs excel at performing billions of matrix multiplications necessary to train and run neural networks due to their parallel architecture—hardware architectures that originated as video game graphics accelerators now power the generative AI boom.

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Siemens EDA, Cadence and Synopsys have received notices from the U.S. Commerce Department about new export controls on chip design software to China.

The semiconductor industry is bracing to potentially lose more than $1 billion once Donald Trump announces chip tariffs.

Two sources familiar with discussions between chipmakers and lawmakers last week told Reuters that Applied Materials, Lam Research, and KLA—three of the largest US chip equipment makers—could each lose about "$350 million over a year related to the tariffs." That adds up to likely more than $1 billion in losses between the three, and smaller firms will likely face similarly spiked costs, estimating losses in the tens of millions.

Some chipmakers are already feeling the pain of Trump's trade war, despite a 90-day pause on reciprocal tariffs and a tenuous exception for semiconductors and other electronics.

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