Nvidia CFO: Still waiting for Trump's 15% commission plan to be codified

[Nvidia Posts Quarterly Earnings]
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Nvidia (NASDAQ:NVDA [https://seekingalpha.com/symbol/NVDA]) is still waiting for the Trump administration to formalize its plan to charge a 15% commission on the company's AI chip sales to China, CFO Colette Kress said in an earnings call with analysts.

The U.S. government plans to "receive 15% of the revenue generated from licensed H20 sales, but to date, it has not published a regulation codifying such requirement," she noted.

Nvidia (NASDAQ:NVDA [https://seekingalpha.com/symbol/NVDA]) should be able to proceed with H20 sales to China without paying the commission if the plan isn't codified, Kress told _Bloomberg _in an interview.

"We have been communicating. If nothing shows up, I've got licenses. I don't have to do this 15% until I see something that is a true regulatory document," she added [https://www.bloomberg.com/news/articles/2025-08-28/nvidia-waiting-for-white-house-to-codify-15-commission-plan].

Nvidia (NASDAQ:NVDA [https://seekingalpha.com/symbol/NVDA]) designed the less powerful H20 for the Chinese market to comply with Biden-era chip export restrictions. But the Trump administration blocked Nvidia (NVDA [https://seekingalpha.com/symbol/NVDA]) from selling these chips to China earlier this year.

It later agreed to grant H20 export licenses in exchange for a 15% cut of the sales. "… to date, we have not generated any revenue or shipped any H20 products under those licenses," Nvidia (NVDA [https://seekingalpha.com/symbol/NVDA]) said in its quarterly report [https://seekingalpha.com/filing/10350027].

"Any request for a percentage of the revenue by the U.S. government may subject us to litigation, increase our costs, and harm our competitive position and benefit competitors that are not subject to such arrangements," it added.

Nvidia (NVDA [https://seekingalpha.com/symbol/NVDA]) did not include H20 in its Q3 guidance given the uncertainty. "If geopolitical issues reside, we should ship $2B-$5B in H20 revenue in Q3."

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