Trump Bought Up to $5 Million in Nvidia Shares Before Policy Shift Benefiting Chipmaker: Report

US President Donald Trump purchased between $1 million and $5 million worth of Nvidia shares just a day before his administration announced a policy change that benefited the chipmaker, according to an analysis by DeKleptocracy.

The transaction has raised questions about potential conflicts of interest, as the president stood to benefit financially from a policy decision affecting one of the world’s leading semiconductor companies.

The sequence of events dates back to May 2025, when the Trump administration revoked a Biden-era regulation known as the AI Diffusion Rule. The rule had restricted US chipmakers from selling their most advanced artificial intelligence technology to certain countries, including China.

The restrictions were designed to protect US national security and maintain the country’s technological advantage over Beijing in the race to develop advanced AI systems.

However, Trump’s financial disclosures reportedly showed that he purchased Nvidia shares worth between $1,000,001 and $5 million on the day before the policy change.

Trump also has a close relationship with Nvidia CEO Jensen Huang, one of the most influential figures in the American technology industry. Huang has separately been at the centre of controversy over allegations involving a suspected Chinese spy.

Apart from Nvidia, Trump also purchased shares in other major technology companies, including Apple, Meta and Microsoft.

How Trump’s Nvidia investment stood to benefit

The Biden administration’s restrictions had limited Nvidia’s access to China, a major potential market for its advanced chips. China had accounted for roughly a quarter of Nvidia’s sales over the previous decade.

When Trump announced the withdrawal of the restrictions in May 2025, Nvidia shares increased in value, potentially benefiting investors who had purchased the stock beforehand.

Financial disclosures cited by DeKleptocracy also indicated that Trump reported 53 Nvidia-related investments and approximately 2,100 trades involving 68 AI-related companies during 2025.

The analysis identified other instances in which Trump’s stock transactions coincided with major policy developments involving the technology sector.

In October 2025, Trump threatened China with additional tariffs. However, according to DeKleptocracy, he had sold stakes in 15 AI companies through 121 transactions a day before making the announcement.

Another series of transactions reportedly took place in December 2025, when the Trump administration changed its policy on semiconductor exports to China.

On December 9, Trump made 19 AI-related trades, including Nvidia investments valued between $5 million and $25 million, according to the analysis.

The reported transactions have renewed questions about the potential overlap between Trump’s personal financial interests and presidential decisions affecting major technology companies. However, the disclosures alone do not establish that his investment decisions influenced the administration’s policy choices.