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.

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.

This is the second time that Nvidia’s permission to sell in China has changed. As widely reported in April, the firm got re-approved to sell chips to China after a dinner meeting between Huang and Trump in the spring, apparently including a tit-for-tat deal in which Nvidia would create new server setups stateside.