The Financial Times first reported on this “highly unusual” arrangement that is part of reopening the gate for Nvidia and AMD to sell previous-gen AI chips to companies in China: > The US official said Nvidia agreed to share 15 per cent of the revenues from H20 chip sales in China and AMD will provide the same percentage from MI308 chip revenues.

Good morning. Chipmakers Nvidia and AMD strike an unusual arrangement with the US government. Volodymyr Zelenskiy refuses to cede land. And the Swiss want to charge the Germans and Dutch for using their Alpine roads.

The Trump administration will receive 15% of the sales as part of a deal to approve exports of Nvidia’s H20 AI chip to China, according to people familiar with the matter. That could amount to billions of dollars given demand for the H20 chips and is the latest example of the White House employing novel tactics to raise revenue.