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NVIDIA Can Sell AI Chip to China Again
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11hon MSN
Nvidia investors have been concerned about the loss of sales to an important market. The company announced it would resume AI chip sales to China after a pending approval from the Trump administration.
Nvidia's shares have climbed back to all-time highs as investors regain optimism in its AI infrastructure business. Generative AI will change the world. With shares up more than 50% since the start of April,
Nvidia said it plans to resume sales of its best-selling H20 AI chip to China, days after CEO Jensen Huang met with President Donald Trump.
Nvidia stock is jumping today following announcements that the Trump administration will allow the company's H20 processor and other hardware to be sold in China. The approval of the export licenses for the company's AI hardware is an unexpected development -- and a big win for CEO Jensen Huang.
Nvidia briefly reached a market capitalization of $4 trillion on Wednesday, making it the first company in the world to reach the milestone and solidifying its position as one of Wall Street's most-favored stocks.
Trump’s tariffs and the trade war continue to roil global markets. Follow along for live updates on the latest inflation report, as well as the Dow, S&P 500 and Nasdaq.
Commerce secretary Howard Lutnick said the US’s reversal of restrictions on sales of chips to China followed recent trade negotiations with Beijing over rare earths. President Donald Trump curbed exports of Nvidia’s H2O artificial intelligence chips to China in April as part of an escalation of his trade war with Beijing.
Nvidia Corp.’s Jensen Huang spent months telling everyone what a grave mistake the US was making restricting shipments of artificial intelligence processors to China — with little sign that his argument was swaying anyone.