Nvidia's chief executive Jensen Huang said on Friday he will not be attending U.S. President-elect Donald Trump's inauguration, but will instead be "on the road" celebrating the Lunar New Year with employees and their families.

Huang skips inauguration for Lunar New Year as Nvidia grapples with new U.S. AI export restrictions under Biden.

Nvidia's demand for advanced packaging from TSMC remains strong though the kind of technology it needs is changing, the U.S. AI chip giant's CEO Jensen Huang said on Thursday, after he was asked whether the company was cutting orders.

Nvidia CEO Jensen Huang kicked off this year’s CES consumer electronics trade show with a slew of AI announcements, in a blockbuster address that had analysts calling the chipmaker's stock a "top pick" on its AI leadership.

Jensen Huang has other plans that day, but Nvidia has already made efforts to curry favor with the president-elect.

Nvidia stock was rising ahead of Friday’s opening bell, putting it on course to reverse some of its losses from a tough previous session. Shares in the chip maker rose 1.4% to $135.39 in premarket trading,