Nvidia Corp. and Advanced Micro Devices Inc. plan to resume sales of some AI chips in China after securing Washington’s assurances that such shipments would get approved, a dramatic reversal from the Trump administration’s earlier stance on measures designed to limit Beijing’s AI ambitions.

The Silicon Valley chip giant said the Trump administration, which had shut down its sales to China three months ago, had assured it that licenses for the sales would now be granted.

NVIDIA's stock price is climbing this morning, and it's no doubt the result of the chip designer confirming it has the White House's preliminary approval to resume selling H20 chips to China.