At Nvidia's annual shareholder meeting on June 24, US time, CEO Jensen Huang stated that "if commercial opportunities conflict with US national security, national security comes first" when asked about export restrictions imposed by the administration of US President Donald Trump. Huang said the company complies with US export controls and accepts restrictions under applicable laws, adding that Nvidia has repeatedly prevented attempts to smuggle higher-end products and does not provide support for smuggled chips. The US government views the transfer of advanced AI technologies to China as a national security risk, and has restricted exports of Nvidia's advanced AI chips to China since 2022, though the H200 remains eligible for export. China has imposed restrictions on imports of Nvidia chips in response, and China accounted for just 9% of Nvidia's revenue in fiscal 2026. Huang noted that Nvidia's systems deliver the lowest cost per token and highest token throughput, and that Blackwell delivers 30 times higher token throughput in certain benchmarks. Nvidia also announced an updated capital return policy, planning to return more than 50% of future free cash flow to shareholders, and in May approved an $80 billion share repurchase program.