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The U.S. commerce department has started to issue licenses to chip giant Nvidia (NASDAQ:NVDA) allowing it to export its H20 graphic processing units to China, the Financial Times reported on Friday, citing a U.S. official.
Nvidia (NASDAQ:NVDA) CEO Jensen Huang last month said the chipmaker had begun to file for the applications to sell the H20 artificial intelligence chips again and that the U.S. government had provided assurances that they would be approved.
The commerce department’s granting of the licenses came two days after Huang visited the White House on Wednesday and met Trump, the Financial Times said, citing people familiar with the decision.
Nvidia (NVDA) did not immediately respond to a request for comment from Seeking Alpha, and neither did the White House.
The company had first disclosed the export curbs on its H20 chips in April and had warned of a $5.5B hit to revenue. Later in May, NVDA issued current quarter revenue guidance that reflected a loss of $8B in H20 revenue.