Source link

Nvidia Corp. Chief Executive Officer Jensen Huang arrived in Beijing Thursday, shortly after the Trump administration barred the company from selling H20 AI chip to China.

Huang, a frequent visitor to the country, showed up in the capital at the invitation of a domestic trade group, according to a social media account affiliated with state-run China Central Television. In a video posted to the account, the CEO had ditched his trademark black leather jacket for a suit and tie, though it was unclear what event he was attending.

The timing of his trip however was unusual, given the CEO dined with U.S. President Donald Trump about a week ago — only to warn of a $5.5 billion writedown from the AI chip restrictions days later. Those curbs marked an escalation of Washington’s tech battle with Beijing, and hamstrung a product line Nvidia explicitly designed for Chinese customers, to comply with previous U.S. export controls. Shortly after the news surfaced, a bipartisan U.S. House committee urged Nvidia to hand over information on sales of chips that Chinese AI upstart DeepSeek may have used to develop its breakthrough chatbot.

China remained a very important market for Nvidia, which will optimize its chip products to comply with U.S. export controls, Huang told the head of the trade group, according to CCTV.

Huang met with Chinese Vice Premier He Lifeng on Thursday evening, state-run Xinhua News Agency reported. He told Huang that China welcomes more U.S. companies including Nvidia to deepen their presence in the Chinese market. Huang expressed optimism about China’s economic outlook and affirmed Nvidia’s commitment to exploring the local market and playing an active role in promoting the US-China economic and trade cooperation.

The CEO also met with DeepSeek founder Liang Wenfeng, the Financial Times reported, citing unidentified sources. An Nvidia representative declined to comment.

Trump’s commerce secretary, Howard Lutnick, has pledged to be “very strong” on China chip curbs — particularly after the emergence of AI startup DeepSeek. He recently sanctioned dozens of Chinese firms that Trump officials allege are aiding Beijing’s military efforts.

In the Asian country’s chipmaking arena, Huawei Technologies Co.’s AI accelerators are the closest competitor to Nvidia’s and Advanced Micro Devices Inc.’s offerings, though they still lag significantly in terms of performance.

This story was originally featured on Fortune.com

Source link

Target’s chief executive officer plans to meet this week with the Rev. Al Sharpton, whose civil rights organization has encouraged consumers to avoid U.S. retailers that scaled backed their diversity, equity and inclusion initiatives.

A National Action Network spokesperson on Thursday confirmed Sharpton planned to see Target CEO Brian Cornell in New York but declined to provide any details about the meeting, which was first reported by CNBC.

A Target spokesperson couldn’t immediately be reached for comment.

Target is among a slew of companies, including Walmart, Amazon and PepsiCo, that have eliminated policies and programs aimed at bolstering diversity among their employees and reducing discrimination against members of minority groups, women and LGBTQ+ people.

After returning to the White House in January, President Donald Trump moved to end DEI programswithin the federal government. He has warned schools to do the same or risk losing federal money.

Earlier this month, Sharpton gave PepsiCo three weeks to meet with him — or suffer a boycott — to discuss reversing the company’s recent move to do away with its DEI initiatives. Sharpton reported Monday that PepsiCo leaders agreed to meet with National Action Network representatives this week.

Target announced on Jan. 24 that it would conclude the DEI goals it had set to increase Black employees’ representation and advancement, improve Black shoppers’ experiences and promote Black-owned businesses. The company also said it planned to stop submitting reports for external diversity surveys.

It is also “further evaluating our corporate partnerships to ensure they are directly connected to our roadmap for growth,” according to a memo posted on its website.

A number of boycotts were launched of retailers that have pulled back on DEI. Some of the boycotts zeroed in on Target.

An Atlanta-area pastor, the Rev. Jamal Bryant, organized a website called targetfast.org to recruit Christians for a a 40-day Target boycott that started March 5, which marked Ash Wednesday, the beginning of Lent. Other faith leaders endorsed the protest.

With Easter Sunday happening this weekend, Lent ends this week.

This story was originally featured on Fortune.com

Source link