One analyst boosted his price target on Nvidia’s stock to a level that would imply a $5.7 trillion market cap, with the chip maker seemingly cleared to sell its H20 chip in China again.

Nvidia said overnight that it had been given assurances that it could sell its H20 artificial-intelligence chips in China again.

Data center operators in China, which use Nvidia’s H20 chips to crunch data for various AI services, have been struggling to find a local alternative that is as good as the U.S. company’s chips.

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

Nvidia CEO Jensen Huang will attend the opening ceremony of China's international supply chain expo on Wednesday, Chinese state broadcaster CCTV said on Tuesday.