Nvidia stock remains in focus on hopes that the chipmaker will soon resume business in China. Needham raised its price target on NVDA shares to $200 on Wednesday.

American chipmaking giant Nvidia (NVDA) 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.

Nvidia will restart restart the deliveries of its H20 GPUs in China and is launching a fresh model built to match U.S. export rules, the company said on Monday. In a statement on its website, the California‑based maker of AI hardware stated that it has already applied to the US Commerce Department for the needed

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

Nvidia said last week that the U.S. will issue new licenses allowing the company to resume sales of the H20 in China, although Washington was yet to do so. The company told its Chinese customers that its stocks of the H20 were limited, and that it did not plan to restart production of the chip, at least for now, The Information reported.

Advanced Micro Devices Inc. said that it plans to restart shipments of its MI308 chips to China after the US said it would approve the sales, following a similar decision on an Nvidia Corp. semiconductor.