Nvidia ( NVDA , Financials ) CEO Jensen Huang will not attend the Jan. 20 inauguration of U.S. President-elect Donald Trump, according to a Friday Reuters report . Rather, he intends to take part in Lunar New Year festivities with Asian staff members, according the paper.

According to Reuters, Huang just met with Chairman C.C. Wei of Taiwan Semiconductor Manufacturing Company ( TSM , Financials ) to discuss increasing output of Nvidia's Blackwell AI processors. Rising demand for AI processors has helped Nvidia's market capitalization to surpass $3 trillion, Reuters said.

While authorizing sales to certain U.S. allies, the Biden administration instituted new rules limiting shipments of powerful artificial intelligence processors to several nations, notably China. According to Reuters, Nvidia objected to these policies saying they would compromise U.S. competitiveness in artificial intelligence and impact sales of the firm. According to the Reuters article, Huang intends to welcome the incoming government even though he has not yet addressed the new rules with them.

Before these rules are put into effect in 120 days, the Trump government is anticipated to evaluate them, Reuters said. Based on the study, Trump sees China policy similarly to the departing government.

According to Reuters, Huang is supposed to join a similar gathering in Beijing next week after attending a business New Year celebration in Shenzhen.

This article first appeared on GuruFocus .