Jensen Huang, the CEO of chipmaker Nvidia (NVDA), and OpenAI CEO Sam Altman shared their thoughts on Monday about President Trump’s decision to raise the cost of hiring foreign workers. On Friday, Trump announced that the fee for an H-1B visa will now be $100,000. In addition, companies must show proof of payment before they can file a petition for a worker, and any petitions will be restricted for 12 months until the payment is made. As a result, the change has left many employers scrambling to understand the impact.
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The two executives discussed the new policy in an interview with CNBC’s Jon Fortt, where they also announced Nvidia’s $100 billion investment in OpenAI to build massive AI data centers. Huang said that immigration is at the heart of the American Dream and vital to the future of the U.S. economy. He emphasized that bringing in the brightest minds from around the world is critical for innovation and growth. Altman agreed by adding that making the process clearer and introducing financial incentives could be a good step forward.
However, the fee hike could have major consequences for the tech and finance industries, which depend heavily on skilled workers from abroad. Last year, India and China accounted for nearly 83% of H-1B visa holders who filled highly technical roles that are hard to source within the U.S. It is also worth noting that the new costs will apply to new applicants only, as people who already have H-1B visas and are abroad will not have to pay the fee to return.
What Is a Good Price for NVDA?
Turning to Wall Street, analysts have a Strong Buy consensus rating on NVDA stock based on 36 Buys, two Holds, and one Sell assigned in the past three months, as indicated by the graphic below. Furthermore, the average NVDA price target of $211.61 per share implies 15.4% upside potential.
