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.

Nvidia's CEO Jensen Huang says the technology giant has won approval from the Trump administration to sell its advanced H20 computer chips used for artificial intelligence to China.

NVIDIA Corporation (NASDAQ:NVDA) is one of the best US stocks to buy according to Billionaires. On July 14, NVIDIA announced its intention to resume sales of its H20 AI chip to China. The reversal comes after NVIDIA CEO Jensen Huang met with President Donald Trump at the White House last week.