Nvidia CEO Jensen Huang is headed to South Korea, one of the company’s most important markets, ahead of meeting there between U.S. President Donald Trump and his Chinese counterpart Xi Jinping.

For Huang, it’s expected to be a trip that mixes business and politics with a meeting with Trump on the cards as well as execs from South Korea’s biggest firms such as Samsung and SK Group.

Market watchers will also be looking out for clues as to Nvidia’s future in China.

Here’s what might happen this week with Nvidia.

Among the execs that Huang is expected to meet is SK Group Chairman Chey Tae-won, Yonhap reported. SK Group is SK Hynix’s parent company.

The meeting could be a chance to discuss future HBM development. Rival Samsung also develops HBM but its product has not been certified by Nvidia for use. A discussion about the progress on Samsung’s HBM could be on the cards as Huang said Tuesday he would meet with the company.

On the sidelines of the Nvidia developers’ conference held in Washington on Tuesday, Huang said his company is partnering with with Samsung and autoamker Hyundai “in many ways” including investing in “AI factories” — a term used to describe data centers.

SK Telecom, another subsidiary of SK Group, is currently building data centers in South Korea. Nvidia is planning to supply its chips to SK Group, Bloomberg reported, citing people familiar with the matter.

Other areas where Nvidia may announce plans could be driverless cars and robotics, a major area of focus for South Korea’s tech industry.

This week could be crucial for providing insights on Nvidia’s future in China. The tech giant was previously banned from exporting its AI chips to China until earlier this year when the Trump administration ended the restrictions. While Nvidia is permitted to export its downgraded H20 chip to China, Beijing has reportedly pushed local companies not to purchase it. Instead, China is pushing its local firms to buy domestic Nvidia alternatives.

Trump on Wednesday signaled that Nvidia’s Blackwell AI processors could be up for discussion with Xi.The Blackwell chip is Nvidia’s most advanced product and is not currently allowed to be exported to China.

“Trump wants to do business with China and he considers almost everything is business including Nvidia,” George Chen, partner and co-chair of the digital practice at The Asia Group, told CNBC on Wednesday.

“We may see China wants some sort of guarantee that the U.S. will not add location trackers into U.S. chips to be sold to China … The U.S. may also have its own demands in return, hence Nvidia now becomes one of the bargains for the two presidents in Korea.”

Chinese regulators in July raised concerns about the security of Nvidia chips in July. The world’s second-largest economy is a lucrative market for Nvidia and being shut out has already cost the tech giant billions of dollars in lost sales. Any opening up of the China market will be positive for the chip maker.

Investors can’t get enough of artificial intelligence, despite worries over the sector’s excessively high valuations.

The S&P 500, Dow Jones Industrial Average and Nasdaq Composite rose Tuesday stateside, with all three notching new intraday highs. The major averages were juiced by gains in tech. Nvidia popped nearly 5%, while Microsoft climbed roughly 2%.

Both Apple and Microsoft reached a market capitalization of over $4 trillion after their shares rose. It was the first time Apple hit that milestone, though it closed just shy of that level.

Tech companies can’t get enough of each other, either.

Nvidia announced a $1 trillion investment in Nokia, which the Finnish company said will go toward developing its AI plans. For those, like me, who remember Nokia as a company that made the most desirable and bullet-proof phones: It primarily produces cellular equipment now.

Meanwhile, with its 27% stake in OpenAI’s for-profit business, Microsoft is potentially sitting on a goldmine — provided AI finds its footing as a sustainable, revenue-generating business in the long run. OpenAI on Tuesday announced it had completed its restructuring as a nonprofit with a controlling stake in its for-profit arm.

It’s not just Microsoft. Investors who have poured money into tech could potentially gain big — as Cathie Wood of Ark Invest says, “If our expectations for AI … are correct, we are at the very beginning of a technology revolution.”

The Fed has a rate cut plus a bunch of other things on its plate this week. Here’s what to expect

Markets are assigning a nearly 100% probability that the Federal Open Market Committee will approve a second consecutive quarter percentage point, or 25 basis point, reduction in the federal funds rate. The overnight lending benchmark is currently targeted between 4%-4.25%.

Beyond that, policymakers are likely to debate, among other things, the future path of reductions, the challenges posed by a lack of economic data and the timetable for ending the reduction in the Fed’s asset portfolio of Treasurys and mortgage-backed securities.

— Jeff Cox