Nvidia chief executive Jensen Huang says President Donald Trump's effort to "re-industrialize" technology manufacturing is "exactly the right thing," a "smart move" that will end the nation's "sole dependency" on overseas suppliers.

Nvidia said it has filed applications to resume selling H20 GPUs in China and has received assurances that licenses will be granted.

Nvidia Corp.’s Jensen Huang spent months telling everyone what a grave mistake the US was making restricting shipments of artificial intelligence processors to China — with little sign that his argument was swaying anyone.

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.

Nvidia has been grappling with export controls on its AI chips implemented by the Trump administration in April for national security reasons.

Nvidia CEO Jensen Huang moved ahead of LVMH’s Bernard Arnault to become the world’s sixth-richest person as shares of the chipmaker rallied to an all-time high Tuesday, after the company said sales of its H20 AI chips would resume “soon” in China,