Nvidia said on Monday that it will resume sales of its H20 graphics processing unit (GPU) chips to China and has introduced a new model tailored to meet regulatory requirements in the Chinese market.

US technology giant Nvidia says it will soon resume sales of its high-end artificial intelligence (AI) chips to China. The US government has assured the firm that it will grant the licenses needed to restart exports to the world's second largest economy,

The administration’s move marks a turnabout after the Commerce Department restricted sales of the chip in April, costing Nvidia billions of dollars. The news came during a visit by Huang to Beijing, where he was meeting senior officials.