Nvidia CEO Jensen Huang on Tuesday said that the company is seeing “very high” customer demand in China for its H200 AI chips, which the U.S. government recently signaled that it would approve for export.

Huang added that Nvidia has started producing the chips again and is working out the final details about export licenses with the U.S. government. Nvidia’s chips are critical for companies developing artificial intelligence models.

“We’ve fired up our supply chain and H200s are flowing through the line,” Huang said at a press conference at the CES conference in Las Vegas.

Investors see the Chinese market as a massive market opportunity for Nvidia as the country’s tech companies develop their own AI models. Huang has previously said that the market could be worth $50 billion per year, and none of those sales are currently included in Nvidia’s forecasts.

In December, President Donald Trump said that Nvidia could export its H200 chip to China as long as the company paid 25% of those sales to the U.S. government. The H200 is a generation or two behind the latest Nvidia models, but unlike previous chips that Nvidia was approved to export to China, this model has not been slowed-down on purpose to comply with export restrictions.

China must also approve the import of Nvidia’s chips. Huang on Tuesday said that he is not expecting China to make an announcement that imports have been approved, and that Nvidia would know the regulatory status as purchase orders come in.

“We’re not expecting any press releases, or any large declarations,” Huang said. “It’s just going to be purchase orders.”

Huang added that any H200 sales would be in addition to the $500 billion two-year forecast the company provided last year.

“It appears that we’re going to be going back to China,” Huang said.

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