Semiconductors can benefit from Trump’s 15% export tax, according to Chris Caso, Wolfe Research senior analyst. The U.S. Commerce Department is working on legal details for President Trump’s proposed  agreement with Nvidia (NVDA) and Advanced Micro Devices (AMD) to have them hand over 15% of revenues from their Chinese AI chip sales to the U.

Nvidia and AMD have agreed to pay the US government 15% of their revenues from semiconductor sales to China in exchange for export licenses, an unprecedented quid pro quo arrangement aimed at solidifying America’s AI business dominance while maintaining trade ties with China.

President Donald Trump on Monday confirmed reports that semiconductor giant Nvidia would pay the United States 15 percent of its revenues from sales of