Nvidia's planned resumption of sales of its H20 AI chips to China is part of U.S. negotiations on rare earths, Commerce Secretary Howard Lutnick said, and comes days after its CEO met President Trump.

The head of Nvidia downplayed his role in getting the U.S. government to lift a ban on selling an advanced computer chip in China and said it will take time to ramp up production once orders for the AI-processor come in.

Nvidia CEO Jensen Huang said the Trump administration is letting it sell its advanced H20 computer chips to China — a reversal in policy.

Nvidia will ramp up supply of Chinese-compliant H20 chips in the coming months and look to bring more advanced semiconductors to the world's second-largest technology market, Chief Executive Jensen Huang said at an event in Beijing.

Nvidia's CEO Jensen Huang says the technology giant has won approval from the Trump administration to sell its advanced H20 computer chips used for artificial intelligence to China.

David Sacks said this would "deprive Huawei of basically having this giant market share in China."

Jensen Huang extolled China’s technological advances and said President Trump wouldn’t mind his meetings in Beijing.

One analyst boosted his price target on Nvidia’s stock to a level that would imply a $5.7 trillion market cap, with the chip maker seemingly cleared to sell its H20 chip in China again.