American chipmaking giant Nvidia 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.

Key Points Nvidia and AMD are both set to benefit from easing export restrictions to China. Nvidia remains the GPU leader, and this news should add billions in sales for the company. AMD has a big opportunity in inference,

Huawei unveiled its most aggressive artificial intelligence system to date on Saturday in Shanghai. The CloudMatrix 384 made its first public appearance at the World Artificial Intelligence Conference (WAIC),

The Trump administration has assured Nvidia that licenses to export the chips will be granted, ending months of halted shipments.

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

Nvidia stock's surge looks poised to accelerate because investors' biggest concern about the company -- losing the Chinese data center AI chip market -- is now a non-issue.

Mich., said Beijing-focused export controls should be designed to keep China’s military “from leapfrogging ahead with U.S. hardware.”

Nvidia CEO Jensen Huang says export controls on advanced chips require companies to adapt. Speaking in Beijing on Wednesday, he addressed the recent lifting of a U.S. ban on Nvidia's H20 chip sales to China.

NVIDIA Corporation (NASDAQ:NVDA) ranks among the best magic formula stocks to invest in. BofA Securities kept its Buy rating on NVIDIA Corporation (NASDAQ:NVDA) while increasing its price target from $180 to $220.