Only a few years ago, the Biden administration declared export controls a “new strategic asset” to help the US maintain “as large a lead as possible” over China in advanced technology. President Donald Trump is now upending that approach.

With help from a longtime Silicon Valley investor turned White House insider, Mr. Huang got the administration to reverse course on restrictions.

Nvidia founder and CEO Jensen Huang has been active on the government relations and lobbying front, and now he’s got something big to show for his efforts: the Trump Administration has agreed to lift a ban on selling Nvidia H20 AI chips to China.