As the top chip company, Nvidia's chips are in high demand from the largest companies, like Amazon and Microsoft, that are building out huge AI businesses. They themselves are serving other giants with AI tools and services in partnership with Nvidia, offering access to the chipmaker's powerful technology.

The Trump administration’s decision allowing Nvidia Corp. to resume shipments of its H20 artificial intelligence chips to China risks bolstering Beijing’s military capabilities and expanding its capacity to compete with the US in AI,

Sources say firms are rushing to buy Nvidia's H20 AI chips, as the company said it planned to resume sales to China.