President Donald Trump on October 8, 2025 awarded the National Medal of Science and National Medal of Technology and Innovation to six technology leaders, including Nvidia CEO Jensen Huang, SpaceX CEO Elon Musk, and Google cofounder Sergey Brin, during a summit in Washington, D.C.
Trump disclosed that he bought up to $1.6 million and sold up to $1 million in Nvidia stock in August 2025, according to a financial filing released the same day. The White House stated that third-party managers independently handled the investments, citing a portfolio replicated to "recognized indexes, such as the Schwab 1000."
Huang and Musk were among the recipients honored for contributions to science and technology. The awards recognize achievements in fields ranging from computer science to space exploration. Trump also presented his uncle, electrical engineer John G. Trump, with a medal awarded posthumously by President Ronald Reagan in 1983.
Recipients and Honors
The ceremony, titled "A New Golden Age Summit," recognized the following individuals:
- National Medal of Science: Jensen Huang (Nvidia), Elon Musk (SpaceX, Tesla), Sergey Brin (Google), and Lisa Su (AMD).
- National Medal of Technology and Innovation: Michael Dell (Dell Technologies) and Satya Nadella (Microsoft).
During the event, Trump praised the recipients for their roles in advancing U.S. innovation. He described Musk as a "modern-day Thomas Edison" and highlighted Huang’s technology as the "backbone of frontier super intelligence." Trump also commended Dell and his wife for philanthropic efforts, including donations to his Trump Accounts initiative, and credited Nadella with leading Microsoft’s early leadership in "super intelligence."
Nvidia Stock Trades and Policy Context
Trump’s financial disclosure revealed hundreds of trades in August 2025, including the Nvidia transactions. A White House spokesperson, Davis Ingle, stated that all investment decisions were made by independent managers without conflicts of interest. The disclosure was signed by Trump on September 17, 2025, and made public on October 8.
The timing of the disclosure coincides with ongoing discussions within the administration about export controls for advanced semiconductors, including those produced by Nvidia. The company’s chips are central to global AI and supercomputing infrastructure, and policy shifts could impact its operations and market position.
Elon Musk’s Relationship with Trump
Separate reporting detailed the evolution of Trump’s relationship with Musk. After a public dispute in mid-2025 over federal spending tied to the One Big Beautiful Bill Act, Musk briefly distanced himself from the administration. However, sources described their reconciliation as "water under the bridge" ahead of the medal ceremony.
Musk had previously led the Department of Government Efficiency (DOGE), a federal agency tasked with reducing wasteful spending, before resigning in May 2025. His departure followed disagreements with Trump over the scope of the spending bill, which Musk criticized as excessive. Trump later rolled back certain Biden-era electric vehicle mandates, a move Musk had advocated for.
Background on the Awards
The National Medal of Science and National Medal of Technology and Innovation are among the highest honors bestowed by the U.S. government. Past recipients have been recognized for breakthroughs in fields such as cancer research, food security, and engineering. The awards are administered by the National Science Foundation and the U.S. Department of Commerce, respectively.
The ceremony underscored Trump’s emphasis on technological leadership, with the summit bringing together scientists, innovators, and industry leaders to discuss the future of American innovation.