Published by Global Banking and Finance Review
Posted on May 24, 2025
By Supantha Mukherjee
NORRKOPING, Sweden (Reuters) -Nvidia CEO Jensen Huang on Saturday praised U.S. President Donald Trump's efforts to boost U.S. technology as the leading chipmaker announced a partnership with a group of Swedish businesses to develop AI infrastructure in Sweden.
Nvidia will provide its latest generation AI data centre platform to a group of Swedish companies, including telecoms gear maker Ericsson and drug developer AstraZeneca.
Nvidia has announced a number of similar partnerships in recent weeks in Saudi Arabia and the UAE after the Trump administration rescinded a rule put in place by previous President Joe Biden that would have restricted exports of AI chips.
Huang, who had earlier called controls "a failure," said President Donald Trump wanted U.S. firms to "win".
"American technology companies were very successful in China four years ago, we have lost about 50% of the market share and competitors have grown," he said on Saturday in Norrkoping, where he was due to receive an honorary doctorate from Linkoping University.
"The President would like American technology to win with Nvidia and American companies to sell chips all over the world and to generate revenues, tax revenues, invest and build in the United States," he said.
The Trump administration has introduced sweeping tariffs saying they would stimulate growth, bring home manufacturing jobs and raise tax revenues.
Many businesses and economists, though, have warned tariffs could have the opposite effect and lead to a recession in the United States and a global downturn by pushing up costs, upending supply chains and hurting consumer and business confidence.
Huang said many policies related to re-industrialisation were "very visionary".
"Manufacturing in the United States, securing our supply chain, having real resilience, redundancy and diversity in our manufacturing supply chain - all of that is excellent," he said.
(Reporting by Supantha Mukherjee in Norrkoping, Sweden, additional reporting by Simon JohnsonEditing by Tomasz Janowski)
Explore more articles in the Headlines category
