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.

Industry demands are changing and only about 30 per cent of the country’s intelligent computing capacity is being used.

Nvidia Corp. boss Jensen Huang anticipates getting the first batch of US licenses to export H20 AI chips to China soon, formally allowing the company to resume sales of a much sought-after component to the world’s top semiconductor arena.

At the Beijing Expo, Jensen Huang also announced plans for a new chip for Chinese clients that is designed for robotics and smart factories.

Nvidia stock hits record highs as U.S. export licenses unlock access to China’s $50B AI market. Click here to read an analysis of NVDA stock now.

One analyst boosted his price target on Nvidia’s stock to a level that would imply a $5.7 trillion market cap, with the chip maker seemingly cleared to sell its H20 chip in China again.