Nvidia and Advanced Micro Devices have agreed to give the U.S. government a share of revenues from certain chips sold in China, the Financial Times reported, in an unprecedented arrangement with the White House.
In exchange for 15% of revenues from the chip sales, the two chipmakers will receive export licenses to sell Nvidia's H20 and AMD's MI308 chips in China, according to the FT.
The arrangement comes as President Donald Trump's tariffs continue to reverberate through the global economy, underscoring the White House's willingness to carve out exceptions as a bargaining tool.
Nvidia CEO Jensen Huang met with Trump last week, according to the FT.
In a statement, Nvidia told the Financial Times: "We follow rules the U.S. government sets for our participation in worldwide markets."
Last week, Trump had said he would implement a 100% tariff on imports of semiconductors and chips, unless a company was "building in the United States."