Jensen Huang's Late-Night Calls With President Trump Come as Nvidia's China AI Chip Shipments Fall 44% in the First Half of 2026. Here's Why His Access Matters.

Nvidia (NVDA) AI chip shipments to China fell 44% year-over-year in the first half of 2026, even as the company reportedly holds $35 billion in chip orders tied to the market.

The gap between orders and deliveries comes down to two constraints named in the report: U.S. export restrictions and production limits that cap how many advanced chips Nvidia can ship. Meanwhile, Huawei is gaining market share in China, filling space that NVDA cannot currently serve.

CEO Jensen Huang's late-night calls with President Trump are the story's focal point. His direct access to the White House may help shape export policy, but the report is explicit that it cannot guarantee a rebound in Chinese sales.

Interpretation: the $35 billion order figure shows demand is not the problem. Supply and policy are. That makes any China recovery a function of Washington's decisions rather than customer appetite, and it leaves NVDA exposed to further share loss to Huawei the longer restrictions persist.