U.S. semiconductor giant Nvidia ($NVDA) stock edged up today despite reports that its chips were smuggled into China to beat President Trump’s

Psst, wanna buy some innovation? An estimated $1 billion worth of smuggled high-end Nvidia AI processors have reportedly found their way onto the Chinese black market, despite the US government's strict restrictions on exports of the tech.

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.