Beijing’s industrial policy is accelerating its rise in artificial intelligence, challenging US dominance despite export restrictions.

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 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.

American chipmaking giant Nvidia (NVDA) says it plans to resume sales to China of an artificial intelligence chip that’s become part of a global race pitting the world’s biggest economies against each other.

Nvidia's planned resumption of sales of its H20 AI chips to China is part of U.S. negotiations on rare earths, Commerce Secretary Howard Lutnick said, and comes days after its CEO met President Trump.

ASML Holding NV Chief Financial Officer Roger Dassen said it will be positive for chip demand if Washington lifts restrictions on the sale of some artificial intelligence processors to China.

Sources say firms are rushing to buy Nvidia's H20 AI chips, as the company said it planned to resume sales to China.

China has invested billions into its artificial intelligence ambitions, aiming to be a leader in the global tech landscape. At the Beyond Expo in Macao, CNN’s Kristie Lu Stout explores the country’s latest breakthroughs and its growing influence in the world of AI.

David Sacks said this would "deprive Huawei of basically having this giant market share in China."

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