Tech led US stocks on Tuesday as a key consumer inflation print showed inflation accelerated in June, big banks kicked off earnings season, and Nvidia was set to receive a green light for trade with China from the Trump administration.

Nvidia stock hits record highs as U.S. export licenses unlock access to China’s $50B AI market. Click here to read an analysis of NVDA stock now.

As part of the arrangement, Baidu will introduce thousands of its Apollo Go autonomous vehicles on Uber’s platform in areas outside of China and the United States.

Nvidia took a $4.5 billion write-off in its latest quarter on unsold H20 chips that it was unable to repurpose for other markets. If sales of these high-volume chips to China resume, a reversal of this write-off could boost earnings.

Chip giant Nvidia  (NVDA) continues writing new chapters in the AI playbook. A smashing success thus far, 2025 has been marked by blockbuster earnings and historic market cap highs.💵💰Don't miss the move: Subscribe to TheStreet's free daily newsletter💰💵Yet,

AMD shares climbed again Wednesday amid optimism about the company's plans to restart exports of its MI308 chips to China. Monitor these key chart levels.

Tuesday after the company said it expects to be able to sell its H20 chips to China again, along with a new export-control-compliant chip for artificial intelligence. The development clears an overhang — for now — and sets Nvidia on a path toward potentially more big market-capitalization milestones with its China revenue opportunity unlocked.

Nvidia stock's surge looks poised to accelerate because investors' biggest concern about the company -- losing the Chinese data center AI chip market -- is now a non-issue.

For strategists at JPMorgan Chase & Co. and Goldman Sachs Group Inc. as well as money managers in Hong Kong and Singapore, an opaque term has suddenly emerged as the catchphrase for deciphering Chinese policy intentions and navigating the stock market.

Treasury Secretary Scott Bessent’s comments and news of the resumption of H20 chip sales to China have excited Wall Street.

A customer is paying attention to the Chinese stock market at a stock exchange in Hangzhou, China, on January 22, 2024. Costfoto/NurPhoto/Getty Images 2024-02-05T09:14:01Z

The Dow Jones index wavered Tuesday after the CPI inflation report. Nvidia stock surged on AI chip sales to China.