In April, the Trump administration blocked Nvidia from selling H20 GPUs in China, a decision that has already cost the company billions of dollars in revenue. Nvidia recently filed applications to resume selling H20 GPUs in China and has reportedly received assurances from the U.

Nvidia briefly reached a market capitalization of $4 trillion on Wednesday, making it the first company in the world to reach the milestone and solidifying its position as one of Wall Street's most-favored stocks.

Nvidia just keeps winning across Washington and Wall Street. Nvidia stock climbed 4 percent Tuesday to hit a record high after the US government gave it the green light to resume