Welcome back, Invidia shares trading at record highs today as Jensen Wong is in China alongside

the president. Our Christina Partsenevolos joins us with more on a busy day on your beat, KP.

It really is. I'm running up and down the stairs. But for Jensen Wong, this isn't about

necessarily getting new deals from Washington. The U.S. didn't issue any new export licenses for

this trip. Invidia already got them back in January. The main

task for NVIDIA's CEO is to really convince Beijing to actually follow through on purchases

that have already been approved. So Reuters is reporting the Commerce Department approved around

10 Chinese companies to buy H-200 chips, including Alibaba, Tencent, BiteD, Dot com, the big guys.

Those companies were approved already, but not a single delivery has been made.

At GTC in March, I ran into the CEO of himself, Jensen Wong, in the hallways, and he told me

Nvidia had purchased orders and got approval from both governments.

Somehow, after that moment in the hallway, those Chinese orders stalled.

Then on April 22nd, Commerce Secretary Lutnik then testified before the Senate that no H-200

tips had been sold to China. Both Lutnik and Jensen Wong were telling the truth.

The orders existed, then fell apart on the Chinese side. The CEO is in Beijing to sell China

on Nvidia, to reassure them that these chips won't threaten their domestic industry. China's priority

is really making its own chips, and to do that, they actually need a U.S. wafer fab equipment. That's a bigger bottleneck than the chips themselves.

Jeffries had a great note this morning saying that President Trump could use that as leverage,

requiring China to buy U.S. chips as a condition for accessing that particular wafer fab equipment.

President Xi told the American CEOs that China's door will, quote, only open wider for all of these companies, including hopefully Nvidia.

Those words, though, need to translate into actual orders. Invita has the licenses. The ball is in China's court.

Well, investors are certainly excited about that prospect, even of just opening the door a little bit wider.

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