The head of a House of Representatives panel on China told U.S. Commerce Secretary Howard Lutnick that resuming sales of Nvidia's H20 chips to China threatens to advance Beijing's AI capability, stepping up his criticism of the decision and saying the original ban was "the right call.

Nvidia stock remains in focus on hopes that the chipmaker will soon resume business in China. Needham raised its price target on NVDA shares to $200 on Wednesday.

Although companies are developing in-house AI chips, ecosystems not yet mature to fully replace NVIDIA’s advantages in system-level integration, computational efficiency