NVDA shares dipped after hours following reports that Senator Elizabeth Warren has called CEO Jensen Huang to testify regarding Nvidia’s chip sales to China.
Shares of Nvidia (NVDA) fell 1% in after-hours trading Thursday following reports that Sen. Elizabeth Warren (D-Mass.) has invited CEO Jensen Huang to testify before the Senate Banking Committee regarding the company’s operations in China and its compliance with U.S. export controls on advanced AI chips. CNBC first reported the development.
In a letter, Warren wrote that the hearing would give Huang “an opportunity to testify about NVIDIA’s views on U.S. export control laws and regulations and NVIDIA’s business in China.” She requested that Huang confirm his attendance by Monday ahead of the scheduled June 11 session. The invitation arrives weeks after Huang joined President Donald Trump on a diplomatic trip to Beijing, where he met with Chinese President Xi Jinping. It also coincides with separate Republican-led efforts in the House Energy and Commerce Committee to investigate alleged Chinese attempts to hinder U.S. artificial intelligence and data-center development.
Prior to sweeping export controls implemented in 2023, China accounted for 13% to 20% of Nvidia’s revenue during certain periods, primarily driven by data-center chip sales. Successive administrations have restricted exports of high-end GPUs, including the H100, H200, and Blackwell series, citing national security risks. In response, Nvidia developed compliant, lower-performance alternatives such as the H20. Sales of these chips have proven volatile; the company recorded a $4.5 billion charge in fiscal 2026 related to H20 inventory following new licensing rules. Under the current Trump administration, the Commerce Department has permitted resumed H20 shipments, occasionally attaching conditions that require a portion of the revenue to be remitted to the U.S. government. Lawmakers from both parties have raised concerns about potential chip diversion to China through third countries. Nvidia maintains it has seen “no evidence” of widespread diversion and asserts that its market share in China has declined sharply.
On Stocktwits, retail sentiment surrounding NVDA stock remained in “bullish” territory over the past 24 hours, though message volume stayed at “low” levels. The stock has gained 16% year-to-date, buoyed by rising demand for AI chips and strong earnings performance. For updates and corrections, readers may email the newsroom at newsroom@stocktwits.com.