(WASHINGTON) — AI chipmakers Nvidia and Advanced Micro Devices struck an extraordinary accord to pay the United States government 15% of the revenue the two companies are set to make from products sold in China, a White House official confirmed to ABC News.

In exchange for the payment, the Trump administration will grant the companies export licenses for the AI chips, allowing the firms to tap into a large market in China.

The quid quo pro agreement between major corporations and the president holds little or no precedent. The Financial Times first reported the deal.

Speaking to reporters at the White House on Monday, Trump recounted the agreement with Nvidia. “I said, ‘If I’m going to do that, I want you to pay us as a country something, because I’m giving you a release,'” Trump said.

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