However, Huang's extensive lobbying paid off. Nvidia agreed to a 15% revenue-sharing agreement with the U.S. government, which allowed the company to resume sales of the H20 chip to China. While the deal could weigh on Nvidia's margins, it marks the continuation of a potentially lucrative opportunity, but there's more good news.

Nvidia CEO Jensen Huang appeared to reference those reports in a visit to chip foundry partner Taiwan Semiconductor Manufacturing Company in Taipei on Friday. He told reporters that Nvidia has a sizable number of H20 chips ready to go once China purchase orders came through, according to Reuters.

Jensen Huang, Nvidia’s chief executive, said he plans to ask the Trump administration’s permission to sell a more powerful chip to Chinese companies.