Nvidia's stock hit a new high after the company struck a deal with the U.S. government to resume the sale of select chips to China.

Nvidia and Advanced Micro Devices have agreed to give the U.S. government 15% of revenue from sales to China of certain advanced computer chips, a U.S. official said on Sunday, in an unusual move likely to faze American companies.

Rep. Don Bacon (R-Neb.) said Monday evening that President Trump’s unusual agreement with major chipmakers Nvidia and AMD to share some of their revenue from chip sales in China is “not a good deal.” “We’ve got to realize we’re in an intellectual war,