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International Business Times UK
International Business Times UK
Business
Niloy Chakrabarti

Nvidia Shares Jump After Reversal of Ban to Export H20 AI Chips to China, Which Cost the Company $10B

Nvidia X Jensen Huang Donald Trump China Administration Dan Ives Wedbush Huawei United States
Nvidia shares rose as high as 5% during Tuesday premarket hours. (Credit: AFP News)

Nvidia (NASDAQ:NVDA) shares rose 4.3% during early Tuesday trading after the company disclosed in a blog post that it will soon resume shipping its H20 artificial intelligence chips to China.

Nvidia CEO Jensen Huang had stated earlier that the export ban cost the company over $7.4 billion ($10 billion) in revenue. The development comes days after Huang met US President Trump and policymakers in the Oval Office to reaffirm Nvidia's support for the Administration's plans to create jobs, bolster domestic AI infrastructure and onshore manufacturing to help the country lead the AI race. The CEO also had meetings with Chinese government and industry officials this week.

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