Nvidia struck a surprising deal after convincing the president that H20 chips aren’t a national security risk. But whether the reversal is good or bad depends on who you ask.

The stakes are high for Nvidia as it looks to restart China chip sales in the face of fast-evolving geopolitical tensions.

Nvidia’s H20 AI chip has been at the center of U.S.-China trade negotiations for months. Raffaele Huang and Robbie Whelan explain why China loves and fears Nvidia’s chip. Beijing wants [