Nvidia 's ( NVDA 0.37%) business has been going strong over the past few years thanks to its dominance in the global artificial intelligence (AI) chip market. The company designs the most powerful AI chips on the market,

The Silicon Valley chip giant said the Trump administration, which had shut down its sales to China three months ago, had assured it that licenses for the sales would now be granted.

Washington has been concerned China could use Nvidia’s chips to get a jump on the U.S. in high-tech fields, particularly when it comes to artificial intelligence.