The global AI chip race narrative used to be about U.S. national security, but apparently now it's about tariffs: Nvidia and AMD have agreed to pay the U.S. government 15% of the revenue they make from sales of high-end AI chips to China in exchange for licenses to sell those chips in the country,

On Monday, President Trump confirmed that the US 'negotiated a little deal' with Nvidia. Some experts note, however, that the US Constitution forbids export taxes.