American chipmaking giant Nvidia (NVDA) 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 CEO Jensen Huang says the technology giant has won approval from the Trump administration to sell its advanced H20 computer chips used for artificial intelligence to China.

David Sacks said this would "deprive Huawei of basically having this giant market share in China."

Wearing his iconic leather jacket, Huang walked into the sunny courtyard of the Mandarin Oriental hotel earlier than scheduled and took multiple questions.

Treasury Secretary Scott Bessent’s comments and news of the resumption of H20 chip sales to China have excited Wall Street.

Shares in Asia are mixed after an update on inflation pulled most U.S. stocks lower, though gains for Nvidia pushed the Nasdaq to another record

U.S. stocks are drifting mostly higher following some mixed data on inflation and profits at some of the biggest U.S. banks.