President Donald Trump granted Nvidia Corp. permission to ship its H200 artificial intelligence chip to China in exchange for a 25% surcharge, a move that lets the world’s most valuable company potentially regain billions of dollars in lost business from a key global market.

The U.S. Commerce Department will soon allow Nvidia Corp's H200 chip to be exported to China, Semafor news outlet reported on Monday, citing a person with knowledge of the plan.