Nvidia CEO Jensen Huang said the Trump administration is letting it sell its advanced H20 computer chips to China — a reversal in policy.

Financial news has been breaking fast and furious, thanks to President Trump. Over the past week, he has: Escalated threats of sharply higher tariffs on major trading partners that don’t cut trade deals with him by the end of the month.

During the summit held in Pittsburgh, Pennsylvania on July 15, companies promised new data centers, new jobs, cybersecurity education, energy research, and more.

But Nvidia now says that Trump, having met personally with Huang, is promising to issue those licenses, which would enable Chinese AI companies to greatly accelerate model development and infrastructure buildout. And even though the H100 chips are officially still supposed to be off-limits, China may be able to get its hands on them as well.

President Donald Trump has dialed down his confrontational tone with China in an effort to secure a summit with counterpart Xi Jinping and a trade deal with the world’s second-largest economy, people familiar with internal deliberations said.

The US has given chipmakers like Nvidia and AMD the opportunity to sell their chips to China again. Derrick Irwin, portfolio manager at Allspring Global Investments, says the US may have retain some dominance,