Nvidia, Advanced Micro Devices gain as China chip sales set to resume

Shares of chip designer Nvidia NVDA.O and rival chipmaker Advanced Micro Devices AMD.O climb nearly 5% in trading before the bell

NVDA is filing applications with the U.S. government to resume sales to China of H20 graphics processing unit and expects to get licenses soon

U.S. Department of Commerce informs AMD that license applications to export its MI308 chips to China will be moving forward for review, company says

Nvidia CEO Jensen Huang is scheduled to hold a media briefing in Beijing on Wednesday

Last week, NVDA hit $4 trillion market capitalization, making it the first public company in the world to hit the milestone

As of last close, NVDA up ~22% and AMD up ~21% vs. Philadelphia SE Semiconductor Index's .SOX ~13% gain, this year