Nvidia CEO Jensen Huang on Wednesday praised China's contributions to open-source artificial intelligence, calling it a "catalyst for global progress" during his speech at an expo in Beijing."China's open-source AI is a catalyst for global progress, giving every country and industry a chance to join the AI revolution," he said, highlighting the efforts of Chinese AI startup DeepSeek, AFP reported."AI is transforming every industry, from scientific research and healthcare to energy, transportation and logistics," he added.Huang commended China’s “super-fast” innovation, driven by its researchers, developers, and entrepreneurs, and emphasized the country's growing role in global AI development.The expo is part of Beijing’s push to position itself as a champion of free trade, in contrast to rising trade tensions and tariffs under US President Donald Trump.Huang’s comments came as Nvidia announced the resumption of sales of its H20 AI chips to China. These chips were specially designed to meet US export restrictions, but deliveries had been delayed after Washington tightened licensing rules in April.Nvidia said on Tuesday that the US government had assured the company licenses would now be granted.

"The US government has assured Nvidia that licenses will be granted, and Nvidia hopes to start deliveries soon," the company said, confirming that it was "filing applications to sell the Nvidia H20 GPU again".The announcement lifted tech markets globally, with the Nasdaq hitting a new record and Hong Kong tech stocks also rallying. Huang's appearance also came just as Nvidia briefly became the world’s first $4 trillion company by market value earlier this week.This development positively influenced technology stocks globally, with the Nasdaq reaching new heights and Hong Kong markets showing significant gains.