Nvidia CEO Jensen Huang has joined U.S. President Donald Trump's official trip to China, following initial reports that he had not been invited. According to a source familiar with the situation, Trump personally called Huang after seeing media coverage of his absence, prompting Huang to fly to Alaska and board Air Force One for the journey to Beijing [1]. Trump is bringing more than a dozen U.S. executives to Beijing this week, where meetings with Chinese President Xi Jinping are scheduled for Thursday and Friday [1].
The trip occurs against a backdrop of ongoing conflict in Iran, which continues to overshadow the delegation’s visit. The war has intensified pressure on Chinese exporters, disrupting critical shipping lanes, causing a historic energy shock, and threatening global demand for Chinese goods [1]. These developments are expected to eclipse concerns over tariffs during the trip [1].
Market volatility has been notable, with mixed trading across Asia as investors react to a hotter-than-expected April inflation reading and higher oil prices, both influenced by the Middle East conflict. Pre-market trading suggests small gains in Europe and the U.S. [1].
Meanwhile, copper prices have reached new record highs, driven by demand from artificial intelligence data centers. Citi analysts believe there is further upside for copper, noting that nearly all copper demand growth since 2022 has been linked to energy transition and AI-related sources. Additionally, strategic inventory stockpiling is emerging as a new channel for demand growth, with Citi specialists mapping out potential price implications of such scenarios [1].
CONCLUSION
Nvidia CEO Jensen Huang’s inclusion in Trump’s China delegation highlights the importance of U.S.-China business relations amid global geopolitical tensions. The ongoing Iran conflict and surging copper prices driven by AI demand are shaping market sentiment, resulting in moderate volatility and cautious optimism. Citi’s bullish outlook on copper underscores the transformative impact of AI and energy transition on commodity markets.