In an interview with Bloomberg released today, Scott Bessent described Nvidia’s plan to allocate 15% of its revenue from advanced chip sales to China as a “unique solution” devised by President Donald Trump, which may be applied to other cases over time.
Besides Nvidia, semiconductor giant AMD has also agreed to pay the United States 15% of its sales of advanced Artificial Intelligence (AI) chips to China.
Nvidia plans to share 15% of the revenue from its H20 chip sales in China, while AMD will allocate the same percentage from MI308 sales, sources confirmed to Bloomberg.
The U.S. Treasury Secretary acknowledged that this model could be implemented “in other industries over time.”
“At this moment, it’s something unique,” he emphasized, but in the future, considering it will now be tested, it might be expanded.
Bessent also noted that the revenue from the Nvidia agreement could be used to reduce debt.
