Nvidia Corp. boss Jensen Huang anticipates getting the first batch of US licenses to export H20 AI chips to China soon, formally allowing the company to resume sales of a much sought-after component in the world’s top semiconductor arena.

The AI chip giant is cheering now, but the celebration may be short.

Shares of Nvidia closed at a record $170.70 Tuesday following news the chipmaker expects to resume exports of its advanced H20 GPU to China.