As the top chip company, Nvidia's chips are in high demand from the largest companies, like Amazon and Microsoft, that are building out huge AI businesses. They themselves are serving other giants with AI tools and services in partnership with Nvidia, offering access to the chipmaker's powerful technology.

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.

The head of a House of Representatives panel on China told U.S. Commerce Secretary Howard Lutnick that resuming sales of Nvidia's H20 chips to China threatens to advance Beijing's AI capability, stepping up his criticism of the decision and saying the original ban was "the right call.