Chipmaker Deals with the White House 8/11/25

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 11 August 2025

⏱️ 36 minutes

🔗️ Recording | iTunes | RSS

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Summary

Nvidia and AMD have reportedly agreed to give the U.S. government 15% of revenues from the chips they sell in China, in exchange for export licenses. The deal is an unprecedented arrangement between the government and private industry, raising concerns about what the deal represents for executive power whether it constitutes “paying off” the government. Lip-Bu Tan, CEO of fellow chipmaker Intel, is headed to the White House after President Trump has publicly called for his resignation. President Trump and President Vladimir Putin will meet in Alaska on Friday; former Democratic Senator Heidi Heitkamp and former Acting Chief of Staff to President Trump Mick Mulvaney discuss the meeting and its optics. The Verge Deputy Editor Alex Heath maps out the battle for AI talent in tech, while firms offer millions for a small pool of hires. Plus, the list of potential Fed Chair nominees has gotten longer. Heidi Heitkamp & Mick Mulvaney - 16:58 Alex Heath - 30:09 In this episode: Alex Heath, @alexeheath Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in show music, please.
0:03.0	Hi, I'm CNBC producer Katie Kramer.
0:07.0	Coming up today on Squawk Pod.
0:10.0	Major tipmakers, NVIDIA and AMD, agree to pay 15% on sales in China back to the U.S.
0:17.0	Is it a tax, a concession, or worse?
0:20.0	The left and right are going to have problems.
0:21.6	Well, I would think the right should have a lot of problems.
0:23.6	Industrial policy.
0:24.6	And speaking of CHIPS, Intel CEO Lit Bhutan is headed to the White House today amid President
0:30.6	Trump's social media posts calling for his resignation.
0:33.6	How surprised would you be if at the end of this meeting, Tan says, you know, I'll pay you 15% big.
0:39.3	15 if I can keep my job.
0:41.3	President Trump and Russia's Vladimir Putin prepping for a meeting in Alaska this week,
0:46.3	former Democratic Senator Heidi Heidkamp is wary of the optics.
0:50.3	What troubled me the most is how Russia is celebrating this meeting as a major win for Putin.
0:56.9	And so I think it's always good to talk, but there has to be preconditions.
1:01.3	Why on American soil? Mick Mulvaney, a former acting White House Chief of Staff, says, don't read into it.
1:08.0	My guess is, and it's an educated guess, Alaska was simply the easiest place to meet on short notice.
1:13.6	It's really, really hard to move the president.
1:16.6	Plus, the artificial intelligence talent wars big tech with the verges Alex Heath.
1:22.6	It's really hard to overstate how behind Apple is right now from a talent perspective.
1:33.8	And all the rest of today's news, the list of possible Fed chairs got, surprise, bigger.
	...

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