American chipmaking giant Nvidia 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.

Nvidia said on Tuesday that it is filing applications with the U.S. government to resume sales of its previously restricted H20 GPU to clients in China. "The U.S. government has assured NVIDIA that licenses will be granted,