Nvidia will ramp up supply of Chinese-compliant H20 chips in the coming months and look to bring more advanced semiconductors to the world's second-largest technology market, Chief Executive Jensen Huang said at an event in Beijing.

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.

Nvidia chief Jensen Huang said it would “accelerate the recovery” of its China sales, after a détente between Beijing and Washington allowed the leading AI chipmaker to resume shipments of a key processor specifically designed for the Chinese market.