The Real Power Player in Trump’s Second Term: Not Cook or Musk, but Jensen Huang

Rises as the Most Powerful CEO in the Second Trump Administration
Resumption of H20 AI Chip Exports as a Prime Example

Jensen Huang, CEO of Nvidia, has emerged as the most influential figure in the second Trump administration.

On July 22 (local time), U.S. business media outlet CNBC reported, "Huang has established himself as the most important business leader in the second Trump administration."

During the first Trump administration, it was Apple CEO Tim Cook who played the role of "business diplomat," shuttling between the White House and Beijing. Cook achieved the partial exemption of U.S. tariffs on China, laying the foundation for Apple’s continued growth in the Chinese market. At the time, CNBC described Cook as "the quintessential CEO diplomat with sophisticated coordination skills." However, in the second Trump administration, Cook has instead faced increased scrutiny.

In May, President Trump expressed his dissatisfaction with Apple manufacturing products in India, stating, "I have a bit of an issue with Tim Cook." This came shortly after Apple announced a $500 billion investment in the United States in February.

After the launch of President Trump’s second term, there was widespread speculation that Elon Musk, CEO of Tesla, would become the president’s "top technology advisor." However, conflicts between the two sides over the so-called "Trump tax cuts" erupted, weakening Musk’s position. That role has now been filled by Nvidia’s Jensen Huang. Following Trump’s return to power, Nvidia overtook Apple to become the most valuable company by market capitalization in the United States.

Dan Ives, an analyst at Wedbush, emphasized, "As a leader of the artificial intelligence (AI) revolution, Huang has become a new central figure on the global political stage. Nvidia’s products are the only chips that make the AI era possible, and this has propelled Huang to a unique position."

In particular, the recent resumption of sales of the "H20 AI chip," which the U.S. government had previously restricted from being exported to China, is a prime example of Huang’s political influence. Initially, the U.S. Department of Commerce banned the export of Nvidia’s H20 chips to China due to security concerns. However, Huang successfully persuaded President Trump in person to lift the export ban. At the time, Huang argued that such restrictions could actually accelerate growth within China and undermine U.S. technological leadership.

Ives commented, "This decision is a historic victory for Nvidia and Jensen Huang, and it demonstrates his increasingly powerful political standing within the Trump administration."