Nvidia said it has filed applications to resume selling H20 GPUs in China and has received assurances that licenses will be granted.

Treasury Secretary Scott Bessent’s comments and news of the resumption of H20 chip sales to China have excited Wall Street.

Nvidia has profited enormously from rapid adoption of AI, but the trade rivalry between the U.S. and China has been weighing heavily on the industry.

Nvidia is set to recoup billions of dollars in revenue as the Trump administration has signaled it will grant licenses for the company to resume sales of its AI chips to China after a surprise export ban in April.

Dow Jones futures fell slightly overnight, along with S&P 500 futures and Nasdaq futures. United AirlinesUAL reported mixed results late Wednesday. NvidiaNVDA chipmaker Taiwan SemiconductorTSM headline earnings early Thursday with NetflixNFLX due after the close.

Teddy Bridgewater says he is suspended from high school coaching for giving benefits to players Nvidia says Trump administration lifts ban on AI chip sales to China Watch: Commuters Trapped as Flash Floods Swamp New York Subway Kay Robertson leaned on her faith to get her through grief of Phil's death

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.

The tech giants said they can resume selling high-end semiconductors to China, in what appears to be a major about-face for the Trump administration.