President Donald Trump has struck a groundbreaking deal with semiconductor giants Nvidia and AMD that will pour millions into America’s coffers, and it’s triggering all the right people.
According to the Financial Times, Nvidia and AMD have agreed to hand over a staggering 15% of their revenues from high-end chip sales to China as part of a special arrangement with the Trump administration. The deal was a condition for granting export licenses for their top-tier chips, Nvidia’s H20 and AMD’s MI308, to the Chinese market.
The move is essentially a “sales tax” on some of America’s largest tech firms for doing business with Beijing, and the money will go straight to the U.S. government.
But while the far-left media is still scrambling to figure out how to spin this as “bad for democracy,” one unlikely voice, Trump-hating billionaire Mark Cuban, just lit up the Democrats for failing to achieve what Trump just did in one stroke.
Cuban, who has spent years trashing Trump, took to X to roast far-left darlings Rep. Alexandria Ocasio-Cortez, Sen. Bernie Sanders, Sen. Chuck Schumer, and Sen. Elizabeth Warren:
Hey @AOC, @BernieSanders, @SenSchumer, @SenWarren, every Dem should be thanking @potus for doing what the Dems have dreamed of doing, but have NEVER been able to do, creating a sales tax on 2 of the biggest semi companies in the country ! This opens the door for Sales Tax for export licenses on EVERYTHING!
He is going to generate corporate tax revenue that you guys only wish you could pass. You should be thanking him all day, every day for this brilliant move you guys couldn’t ever pull off !
In the future, don’t call it a tax, call it a Commission for America. BOOM!
Hey @AOC , @BernieSanders , @SenSchumer , @SenWarren , every Dem should be thanking @potus for doing what the Dems have dreamed of doing, but have NEVER been able to do, creating a sales tax on 2 of the biggest semi companies in the country ! This opens the door for Sales Tax…
— Mark Cuban (@mcuban) August 11, 2025
In another post, Cuban wrote:
This is a “billionaire’s tax” structured as a royalty or sales tax on semiconductors from the most valuable company in the world, sold to China.
While it’s scary on a lot of levels to businesses and entrepreneurs, it’s what @aoc, @BernieSanders and @SenWarren should have thought of. They are so intent on income and wealth taxes on “oligarchs”, they have no concept of leverage in business. Trump does.
Potus is more progressive when it comes to taxation than anyone in the progressive wing of the Dems has ever been. The Dems should be celebrating just how progressive it is. The irony.
If Dems celebrated this as they should, republicans would be so confused. lol.
He wants to grab whatever revenue he can from our biggest businesses, which are owned by … wait for it … billionaires. He knows they will pay for something he has, that they need. in order to grow their companies. That’s understanding leverage
He took 15 pct of equity from a company. That is the ULTIMATE wealth tax. He diluted every shareholder, upfront , regardless of their net worth. Lol. A progressive dream !
Everyone knows how I feel about POTUS, but he doesn’t get everything wrong.
Tariffs are bad. They kill small businesses and entrepreneurs. A group he never talks about. He is dead wrong here.
And I disagree on most of the non-business things he does.
But when it comes to tax revenue generation , as I’ve said to many Dems over the last 12 months, if you want to generate revenue from the richest of us, give them incentives to give you money and do the right thing. Particularly for their businesses.
Trump gave nvidia incentives to pay probably 4b and growing per year, know that created 25b or more in high margin revenue.
Will this make up for the explosion of the deficits we face ? Not as it stands now. Not close.
But give him credit for knowing how those CEOs approach problems and opportunities , and using his leverage to generate tax revenues .
This is a “billionaire’s tax” structured as a royalty or sales tax on semiconductors from the most valuable company in the world, sold to China.
While it’s scary on a lot of levels to businesses and entrepreneurs, it’s what @aoc, @BernieSanders and @SenWarren should have… https://t.co/OrqgwLvduW
— Mark Cuban (@mcuban) August 11, 2025
Translation: Cuban just admitted Trump outflanked the Left at their own game, taxing corporations, while protecting American interests abroad.
The irony is almost too perfect. The Democrats who scream about “corporate greed” and “making the rich pay their fair share” are now watching Trump make it happen in a way they never could, and with their biggest tech allies footing the bill.
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