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US Treasury secretary Scott Bessent has raised the prospect of the White House rolling out the unprecedented revenue-sharing agreement it struck with chipmakers Nvidia and AMD to other industries.
President Donald Trump upended corporate norms this week after Nvidia and AMD agreed to give the US government 15 per cent of their Chinese chip sales in exchange for being awarded export licences.
“I think we could see it in other industries over time,” Bessent told Bloomberg TV on Wednesday. “I think right now this is unique, but now that we have the model and the beta test why not expand it?”
Under the deal, Nvidia will share revenues from Chinese sales of its H20 chips and AMD will do the same for its MI308 semiconductors.
Bessent made the comments after Trump confirmed on Monday that he had “negotiated a little deal”, which was first reported by the Financial Times, to hand the US a cut of the chipmakers’ Chinese revenues.
Bessent downplayed security concerns over the H20 sales, insisting that allowing Nvidia to sell them in China would make them “the bellwether for Chinese technology” while also swelling the US government’s coffers.
He said the administration would use revenues generated from the sales to pay down debt.
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