Nevertheless, export restrictions imposed by the U.S. government have cost the company billions of dollars in sales. Fortunately, Nvidia shareholders recently got great news from the Trump administration: Applications to resume selling its H20 GPUs in China will be approved by the Commerce Department. Here's what investors should know.

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.

The Nasdaq Composite posted its latest record finish today, supported by a jump in shares of heavyweight Nvidia, but the other Wall Street benchmarks dropped as a key inflation report and a flurry of bank earnings failed to excite investors.