Nvidia confirmed it has applied for U.S. licenses to sell its advanced H20 AI GPUs in China (lifting an April export ban). Commerce Secretary Howard Lutnick linked the move to U.S.-China rare-earth negotiations. The reversal of the export restriction means Chinese companies (like ByteDance and Tencent) are scrambling to buy H20 chips, which, despite slightly reduced power under U.S. rules, still use Nvidia’s industry-standard AI software tools.