Nvidia to resume sales of H20 AI chips to China
The company's CEO made this announcement a day before attending the opening of China's third international supply chain expo in Beijing.
An Nvidia chip in a file image.
Tech giant Nvidia announced Tuesday that it will resume sales to China of its H20 artificial intelligence chips after suspending exports to the country due to licensing restrictions imposed by the U.S.
Nvidia CEO Jensen Huang said the company had submitted applications to resume selling the Nvidia H20 GPU in a statement. The CEO stated that the U.S. government assured the company that it will grant the license.
The executive shared the new news a day before attending the opening of the third China International Supply Chain Expo in Beijing, according to state broadcaster CCTV.
China is a crucial market for Nvidia, but in recent years, export restrictions have thrown it into stiffer competition with local companies such as Huawei.
Weeks earlier, the company had assured the U.S. financial markets regulator that it expected losses of $5.5 billion this quarter due to a new licensing requirement on the main chip it can legally sell in China.
Beijing has condemned Washington's restrictions as unfair and designed to hinder its development.
Nvidia's success on Wall Street
Shares of Nvidia rose 2.64% on the New York Stock Exchange to a price of $164.07.
The $4 trillion market capitalization of Nvidia, led by electrical engineer Jensen Huang, represents a figure larger than the GDPs of France, the United Kingdom and India.
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