American chip making giant Nvidia (NVDA) says it plans to resume selling artificial intelligence chips to China, which have become part of a global race that attacks each other on the world's largest economy.
The company's announcement on Monday comes after Nvidia CEO Jensen Huang met with President Donald Trump at the White House last week. Huang argues that limiting US technology sales to China could put US AI leaders in danger, saying the company is missing out on billions of dollars in revenue due to restrictions.
Another major chip maker, AMD, said on Tuesday it also plans to resume sales of AI chips to China.
“We have recently been notified that a license application for exporting MI308 products to China will be licensed to advance for review,” the company said in a statement to CNN. “We plan to resume shipping after the license has been approved. We commend the Trump administration for moving forward with trade negotiations and progress in the US's commitment to AI leadership.”
The White House did not immediately respond to a request for comment.
Treasury Secretary Scott Bescent told Bloomberg in an interview Tuesday that Nvidia's export controls were a “negotiation tip” for larger US-China trade talks, with the two countries signing contracts to reduce tariffs charged to each other.
Nvidia is the world's most valuable company and last week it became the first public company to reach a $4 trillion valuation thanks to its role in the artificial intelligence market. The company's chips are used to power technology from AI chatbots to robotics and self-driving cars.
Nvidia released it last year as a way to maintain access to the Chinese market.
However, in April, the White House told the company that it would require a special license to export H20 to China and would force the company to halt sales. It is widely believed that the H20 contributed to Deepseek, an advanced Chinese AI model.
On Monday, Nvidia applied for the sale of H20 in China again, saying the company could “start delivery immediately” with assurances that these licenses would be approved by the US government.
The US government is trying to block China's use of American technology to advance military and AI systems.
However, Huang argues that if American technology companies are restricting sales to China, Chinese developers can simply create their own and undermine US leadership.
“Just as America wants to build a world based on the US dollar, and as they want to use the US dollar as a global standard,” Huang told CNN's Fareed Zakaria in an interview aired Sunday. “We love that the Internet is created by and built on American technology, so we should continue to aim for that.”
The chipmaker said in May that it missed out on an additional $2.5 billion in revenue from sales from H20 sales to China in the first quarter of 2025, and was expecting an additional $8 billion in revenue loss in the second quarter. Last month, Nvidia said it would no longer include China's sales and profit forecasts due to the uncertainty surrounding export restrictions.
Huang is scheduled to hold a media briefing in Beijing on Wednesday, his second visit to China after highlighting the importance of the Chinese market after his trip in April.
