The company's CEO Jensen Huang said in a video broadcast by China's official "CCTV" channel on Tuesday, "The U.S. government has authorized us (to submit) licenses to begin shipping H20, so we will start selling it to the Chinese market."

This comes as US-China tensions ease, with China loosening rare earth exports and the US restoring chip design software access.

Data center operators in China, which use Nvidia’s H20 chips to crunch data for various AI services, have been struggling to find a local alternative that is as good as the U.S. company’s chips.

Nvidia has been an artificial intelligence leader and major winner over the past few years. On July 16, CEO Jensen Huang may address one of the company's biggest challenges. But Nvidia has encountered one major hurdle along this path,

Nvidia CEO Jensen Huang will hold a media briefing in Beijing on July 16, an official from the company said on Sunday, marking his second visit to the country after a trip in April where he stressed the importance of the Chinese market.