White House National economic adviser Kevin Hassett, in an apparent reference to Nvidia's H20 AI chip shipments to China, said President Trump and his team decided to let the chips go in a bid to stop China from getting ahead in the race to make the best chips.

Nvidia stock was rising Tuesday. The chip maker has placed an order for 300,000 of its H20 chips for the Chinese market, Reuters reported.

Nvidia's CEO Jensen Huang says the technology giant has won approval from the Trump administration to sell its advanced H20 computer chips used for artificial intelligence to China.