Nvidia surges as H20 chip sales to China set to resume
Shares of Nvidia NVDA.O rise 3.7% to $170.25 in premarket trading on Tuesday
Co said on Monday that it plans to resume H20 AI chip sales to China
Co said that it is filing applications with the U.S. government to resume sales to China of H20 graphics processing unit (GPU), and expects to get licences soon
Nvidia CEO Jensen Huang is scheduled to hold a media briefing in Beijing on Wednesday
In May, Reuters reported Nvidia was preparing to launch a new AI chip, based on the RTX Pro 6000D, in China at a significantly lower price point than H20
Last week co hit $4 trillion market capitalization, making it the first public company in the world to hit the milestone
NVDA up 22.2% YTD
PLHX chip index .SOX now up ~13.4% YTD but still short of its record highs in July 2024
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