New Delhi, Aug. 12 -- US President Donald Trump stated that the current duties over Nvidia's export deal with China only cover the older H20 chip, which he described as "essentially old."

Speaking to the reporters on Monday (E.T), Trump added that he wouldn't authorise exports of Nvidia's latest Blackwell chip unless its performance is significantly reduced by 30-50%. Additionally, Nvidia CEO Jensen Huang is expected to visit this week to discuss the new chip, Blackwell.

Earlier, Nvidia Corp. and Advanced Micro Devices Inc. have agreed to give 15% of their Chinese AI chip sales revenues to the US government. This deal is meant to secure export licenses and is considered an unusual arrangement that could unsettle both US companies and Be...