Nvidia will resume sales of its H20 AI chips to China after CEO Jensen Huang met with President Donald Trump in the White House last week in an effort to convince him to remove export controls that had hamstrung the company.
The Trump administration has assured Nvidia that licenses to export the chips will be granted, ending months of halted shipments that had severely impacted the company’s access to one of its largest markets, according to a statement from the firm.
The news sent Nvidia’s stock soaring more than 5% in pre-market trading. Last week, the chipmaker became the first public company in history to surpass a $4 trillion market valuation.
Daniel Ives, senior analyst at Wedbush Securities, hailed the development on Tuesday as “a watershed moment for Nvidia, the AI Revolution thesis, and the overall US tech industry,” called the decision “a monster win for the Godfather of AI