US technology giant Nvidia says it will soon resume sales of its high-end artificial intelligence (AI) chips to China. The US government has assured the firm that it will grant the licenses needed to restart exports to the world's second largest economy, the company said in a blog post.

Nvidia NVDA.O said on Monday it will resume sales of its H20 artificial intelligence chip to China and has introduced a new model tailored to meet regulatory requirements in the Chinese market.

Nvidia CEO Jensen Huang said in a video published by Chinese state broadcaster CCTV on Tuesday "the US government has approved for us (to file) licenses to start shipping H20s, and so we will start to sell H20s to the Chinese market".