Nvidia hits new record high after saying it expects to resume sales of H20 chips to China

US-China Trade Relations & AI Chip Market - Easing of tensions between the US and China is a positive sign for the semiconductor industry, evidenced by relaxed restrictions on chip design EDA software and potential removal of restrictions on Nvidia and AMD products [2] - The US aims to maintain its dominance in the AI technology stack by staying involved with Chinese AI software developers [3][4] - Computer chips are bargaining chips in the US-China relationship, with merchant silicon vendors like Nvidia and AMD likely to benefit most from continued sales to China [4][5] Global AI Spending & Market Diversification - China currently accounts for 10-15% of global AI spending, but this could decrease to 5-10% if restrictions persist [6] - Spending in sovereign locations, particularly the Middle East, could surpass China's AI spending [6][7] - Meta's multi-gigawatt data center plans represent a significant AI opportunity, with each gigawatt equating to $50 billion for companies like Nvidia [7] - Benefits of eased restrictions are spreading globally, beyond China, potentially reducing risks for companies selling into regions like Singapore [8] AI Ecosystem & US Dominance - Increased global availability of chips is expected to invigorate the AI ecosystem and help the US maintain its dominance in the AI stack [10]