Nvidia and AMD agreed to share 15% of their revenues from chip sales to China with the U.S. government, President Donald Trump confirmed at a press conference Monday.

The Trump administration halted the sale of advanced computer chips to China in April over national security concerns, but Nvidia and AMD revealed in July that Washington would allow them to resume sales of the H20 and MI308 chips, which are used in artificial intelligence development.

The president said he originally wanted 20% of sales in exchange for Nvidia obtaining export licenses to sell the “obsolete” H20 chip to China, but credited Nvidia CEO Jensen Huang for negotiating him down to 15%.

“So we negotiated a little deal. So he’s selling a essentially old chip,” Trump said.

Nvidia did not comment about the speci

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