Nvidia stock spiked on Tuesday. The AI chip titan said it had received assurances from the administration that it can resume sales of key AI chips to China.

American chipmaking giant Nvidia says it plans to resume sales to China of an artificial intelligence chip that’s become part of a global race pitting the world’s biggest economies against each other.

It’s been a very busy week for Nvidia CEO Jensen Huang. After meeting with President Donald Trump and senior officials in Beijing in recent days, Huang has secured a major victory for his AI-chip empire.